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Prensa Latina: Nicaragua Grand Canal, a Key Project for Humanity 2015-7-21 09:38

Managua, July 10  (Prensa Latina) The Interoceanic Grand Canal is fundamental to Nicaragua and all humanity in improving the Atlantic-Pacific maritime connection, stated the Nicaraguan sociologist Freddy Franco.

With the canal, the costs for American, European and Asian countries and even for the United States will be reduced, remarked the professor in an interview with Prensa Latina.

Franco claimed that the new interoceanic waterway will be a fundamental contribution to the economic and social growth of Nicaragua, particularly to the National Human Development Plan.

National Human Development Plan has established social transformation goals including poverty alleviation, job creation, more balanced distribution of wealth and a sustainable and diversified economic development, he stressed.

He also added that "the Canal will provide us with the political and economic support integral to national sovereignty, and will place us in a stronger position in the international arena".

As the director of the Federation of University Labor Unions of Central America, Mexico and Caribbean, he expressed that "Nicaragua will be a global hub because, within a few years, Panama will not be able to meet all the demand of maritime trade -due to the draft of vessels."

Therefore, the Nicaragua Canal will complement the Panama Canal. That will give us, little by little, greater economic strength and will influence the country’s sovereignty, he added.

According to Franco, the economic income expected to be generated from this waterway will be reinvested on resources in order to achieve greater social development and environmental sustainability in Nicaragua.

According to official figures, 5,100 vessels will transit through this maritime route annually, representing five percent of global trade transportation. In addition, it will double the Gross Domestic Product of Nicaragua and generate about 250,000 jobs.

The Grand Canal project also includes construction of roads, an airport, a free trade zone, tourist resorts and two ports, one on the Pacific side and another one on the Atlantic side.

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