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08/14/2007

Nations Barter Infrastructure Development For Food

Iran is to help Nicaragua develop its infrastructure in return for farm products, according to a trade deal between the two countries. Under the agreement, Iran will help develop a port and build houses and industrial sites. In return, Nicaragua will export coffee, meat, and bananas to Iran.

The two countries, which have strained relations with the U.S., have improved ties since Daniel Ortega became Nicaragua�s President in January 2007. Iranian President Mahmoud Ahmadinejad visited Managua in January, and President Ortega returned the visit to Tehran in June.

Under the barter accords, Iran will fund a farm equipment assembly plant, four hydroelectric plants, five milk-processing plants, a health clinic, the building of 10,000 houses, and two piers in the western port of Corinto.

The U.S., however, has warned Nicaragua that closer ties with Iran could harm its relation with Washington.


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