Japan to Agree $800 Million Loan to Fund Panama Canal Expansion
JBIC, as the state bank is known, will offer $400 million, and Mitsubishi UFJ and Sumitomo Mitsui will provide another $400 million.
Monday, October 27, 2008
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.
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 Inter-American Development Bank approved a loan today for the widening of the Panama Canal, the biggest infrastructure project underway in Latin America.
The Government signed two loans with the World Banks for heath and educational projects, President Martin Torrijos reported.
The World Bank and the Government of Panama have signed off on a $100 million loan to improve the country's fiscal management and increase the efficiency of social protection programs.
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