03/02/2011 (Agence Europe) - Loan for Nicaraguan electricity sector. On Monday 31 January, the European Investment Bank (EIB) granted a loan of €70 million to the Republic of Nicaragua to fund investments to improve the electricity transport networks. This loan aims to support the country's sustainable electrification and renewable energy programme (PNESER), to be implemented over the next four years. The PNESER initiative has seven components. The EIB loan will support the sixth plank, on energy. More specifically, it will fund the installation of nearly 640 km of new transport lines fed by renewable energy sources, the construction of nine new electric substations and the modernisation of existing lines and substations, to increase their capacity and tension. The project will make it possible to increase electricity cover in rural areas from 65% currently to 90% by 2020. (O.L./transl.fl)