Indian Ambassador to Panama, Nicaragua, and Costa Rica, Sumit Seth, along with Nicaragua's Foreign Minister, Valdrack Jaentschke, signed a framework agreement to implement Quick Impact Projects (QIPs), according to a statement from the Indian Embassy.
India, Nicaragua sign an umbrella agreement to implement Quick Impact Projects. Source: X | @IndiainPanama.
The statement noted that on Tuesday, India and Nicaragua formalized a Memorandum of Understanding (MoU) to promote socio-economic development through QIPs.
The embassy, in posts on X, said: “To add another dimension to the relationship, Ambassador and the Foreign Minister of Nicaragua, Valdrack Jaentschke signed an umbrella agreement to implement Quick Impact Projects”.
“Under this umbrella MoU, the Government of India (GoI) will provide grant assistance for each Quick Impact Project. The focus will be on key areas such as physical infrastructure, including roads and community centers and social infrastructure, such as education, healthcare, sanitation,” read another post.
“The projects are designed to yield immediate and visible benefits for the people of Nicaragua. Implementation of these quick impactful projects will underscore India’s active role in supporting global development through partnerships that directly benefit local communities,” the embassy said on X.
The Indian Embassy stated that the agreement signed in Managua enhances the expanding bilateral cooperation and brings concrete benefits to the people.
India and Nicaragua share warm and friendly relations, with diplomatic ties established in March 1983.
The Indian Embassy in Panama is also accredited to Nicaragua, while Nicaragua previously operated an embassy in India, which closed in 1990. At present, Nicaragua's embassy in Tokyo concurrently handles its diplomatic affairs with India.
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