CIDCA chairman attends groundbreaking ceremony of China-aided housing project in Nicaragua

On April 16, the groundbreaking ceremony of the first phase of the "new victory" project, a China-aided affordable housing project in Nicaragua, was held in Managua. Luo Zhaohui, chairman of the China International Development Cooperation Agency (CIDCA) and Advisor to the Nicaraguan president Laureano Ortega Murillo attended the ceremony.

Noting that the project is the first major cooperation project between China and Nicaragua since they resumed diplomatic relations, Luo said it is a testament to the friendship and cooperation between the two countries. China attaches great importance to China-Nicaragua relations, appreciates Nicaragua's firm support on issues concerning China's core interests, as well as its close cooperation on international and regional matters, Luo said, adding that China will complete the project on schedule and to a high standard, continue to deepen cooperation with Nicaragua and make joint efforts to contribute to the development of bilateral ties and the building of a community with a shared future for mankind.

Laureano extended his appreciation to China for its assistance since the resumption of diplomatic ties. He said that Nicaragua highly agrees with several China-proposed initiatives, such as a community with a shared future for mankind and the Global Development Initiative, and looks forward to further deepening pragmatic cooperation with China in various fields.

The first phase of the "new victory" affordable housing project was wholly-funded and undertaken by the Chinese government in Nicaragua. It is a housing complex in Managua and consists of 920 apartment units with supporting facilities, such as a central square and sports venues.

Nicaraguan Minister of Finance Ivan Adolfo Acosta Montalvan, Minister of Transport and Infrastructure Oscar Mojica Obregon, Mayor of Managua Reyna Rueda, Chinese Ambassador to Nicaragua Chen Xi, Director-General of the CIDCA's Second Department of Regional Affairs Liu Junfeng, and Deputy Director-General of the CIDCA's Department of Policy and Planning Li Ming also attended the ceremony.