The Central American Bank for Economic Integration (CABEI) has financed water projects, housing, sustainable energy, reforestation, roads and bridges in Nicaragua. The proposed new sanctions would cut off these loans. (Photo: CABEI)
On June 8, 2023, U.S. Senators Marco Rubio (R-FL) and Tim Kaine (D-VA) introduced legislation that would extend the U.S. government’s authority to impose sanctions on Nicaragua through December 31, 2028! The bill is now in the Senate Foreign Relations Committee, with no vote taken yet – so there is time for us to take action together!
The new sanctions seek to restrict loans for economic development from the Central American Bank for Economic Integration (CABEI) which funds roads, water and energy projects, and housing in the country. The old sanctions stopped most loans from the IMF, World Bank and the IDB. Now the U.S. wants to stop the CABEI loans as well! All these restrictions should be lifted!
In addition to writing to your senators, please consider calling members of the Senate Foreign Relations Committee where this bill has been sent! Here is a list of Committee members: https://www.foreign.senate.gov/about/membership. Enough opposition at the committee level can stop the bill from going to the Senate floor. The Capitol switchboard number is: (202) 224-3121.
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