$120 Million for Cleaning Up the Bay of Panama
The Andean Development Corporation (CAF) approved a $120 million loan for the project to clean up the Bay of the City of Panama.
Friday, October 1, 2010
In the past decades, accelerated urban growth in Panama City has caused sewage problems and contamination in the bay of the city. The situation is being addressed through a clean-up project called "Proyecto de Saneamiento de la Ciudad y Bahía de Panamá", for which CAF has approved a $120 million loan.
Using a loan from the Andean Development Corporation a wastewater collection system and treatment plant will be built in the districts of Burunga and Arraijan Cabecera.
The AyA has projects for which it is looking for funds, and is considering various forms of investment types, including concessions for public works, public - private partnerships, leasing and securitizations.
The Development Bank of Latin America has announced an additional loan of $176 million, in favor of the project for the Clean Up of the City and Bay of Panama.
The CAF loan is aimed at improving health conditions and support economic and urban development in the province of Panama.
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