India has provided $10 million to Nicaragua for setting up two electric substations. Nicaragua is a key member of India-SICA (Central American Integration System), in which India has a dialogue mechanism at the foreign ministers level. Bilateral trade stands at $60 million, largely in favour of India.
Nicaraguan Foreign Minister Samuel Santos Lopez, in India on an official visit Aug 19-23, wants Indian businessmen involved in the proposed $40 billion canal, foreign ministry spokesperson Syed Akbaruddin said.
Lopez told Indian officials that his government was expected to ready a detailed project report by 2014. Lopez also reiterated his country’s support for India’s candidature to a UN Security Council permanent seat.