An umbrella agreement to implement Quick Impact Projects was signed by Nicaragua's Foreign Minister Valdrack Jaentschke and Indian Ambassador Sumit Seth to Panama, Nicaragua, and Costa Rica, according to a statement from the Indian embassy in Managua.

According to the statement, India and Nicaragua signed a Memorandum of Understanding (MoU) on Tuesday with the aim of implementing Quick Impact Projects (QIPs) to promote socioeconomic development. "To add another dimension to the relationship, Ambassador and the Foreign Minister of Nicaragua, H.E. Valdrack Jaentschke signed an umbrella agreement to implement Quick Impact Projects," said the embassy in a post on X. The projects are intended to assist the Nicaraguan people immediately and visibly. 

India's proactive involvement in promoting global development through collaborations that directly benefit local populations will be highlighted by the implementation of these immediate, significant projects. The 'First Policy Makers' Forum' was inaugurated by the Union Minister of Health and Family Welfare, Chemicals and Fertilisers JP Nadda in Delhi. It took place from August 19 to 22. Several nations, including Nicaragua, participated in the forum, demonstrating India's dedication to enhancing the Indian Pharmacopoeia's (IP) international acceptance.

India and Nicaragua share warm and friendly bilateral relations. Diplomatic ties between the two countries were established in March 1983. India's Embassy in Panama also represents its interests in Nicaragua. Previously, Nicaragua had an Embassy in India, but it was closed in 1990. Currently, Nicaragua's Embassy in Tokyo is concurrently accredited to India.