$400 million for widening of Panama Canal

The Inter-American Development Bank approved a loan today for the widening of the Panama Canal, the biggest infrastructure project underway in Latin America.

Wednesday, October 8, 2008

"The IDB has been a strong ally of Panama for almost 50 years," said the president of the bank, Luis Alberto Moreno, in a release. "We are proud of being able to support this key investment in the future of Panama's biggest asset, especially at time of uncertainty in international financial markets," Moreno added.

More on this topic

IDB offers $400 million for the Panama Canal

September 2008

IDB announced that it is considering offering $400 million to finance the widening of the Panama Canal which will has a total cost of $5.25 billion.

The announcement was made in Washington by IDB president, Luis Alberto Moreno, during the visit of president Martin Torrijos.

IDB Increases Support to Central America

March 2009

During a meeting of Governors, IDB President Luis Alberto Moreno announced that the entity will increase its support to countries in the region.

Proceso Digital published on its website: "’At this juncture, we have to lend more and that is our obligation and why we are here,' said the head of the IDB in his opening speech.

Guatemala: BID Bank Loans Could be Suspended

July 2011

The entity is analyzing suspending or extending loans that had been approved to finance part of the government’s budget.

Over $400 million designated for health affairs, competitiveness, small and medium enterprises, among other sectors, may not be disbursed unless congress speeds up their approval.

Japan to Agree $800 Million Loan to Fund Panama Canal Expansion

October 2008

JBIC, as the state bank is known, will offer $400 million, and Mitsubishi UFJ and Sumitomo Mitsui will provide another $400 million.

The Japan Bank for International Cooperation, the state-owned overseas lender, said it will sign an $800 million syndicated loan for the expansion of the Panama Canal that will help Japan boost trade with the Americas.

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