National Bank of Panama will Finance Hydroelectric Projects

Financing hydroelectric energy generation projects is among the new policies the Bank will adopt.

Wednesday, July 8, 2009

Darío Berbey, General Manager of BNP, stated that this change in policies will help lower the cost of life in Panama.

Journalist Xenia De León writes in Prensa.com: "This is a subject defined as priority by the government, because it will help lower the cost of living in Panama. 'If there is more hydroelectric power generation, we won't depend on bunker and fuels, and this will translate to the whole production chain.'"

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$145 Million for Panamanian Agriculture

January 2010

Panama's "Banco Nacional" expects to loan $145 million to the agriculture industry in 2010.

In January, the bank will lower interest rates from 4.5% to 3.5%, in order to foster the production of vegetables and coffee.

Darío Berbey, General Manager of the "Banco Nacional", told Prensa.com: "We intend to foster production of these products, which will boost the economy in the province of Chiriquí".

Fitch Increases Banco Nacional Rating to AA+

April 2010

Fitch Ratings increased Panama’s Banco Nacional Long Term Rating to AA+ and ratified its short term rating at F1+.

Its long term outlook is “stable”.

Banconal’s rating was increased following Fitch’s upgrade of
Panama’s soverign rating to “BBB-“. Such upgrade reflected sustained improvements in Panama’s public finances, strengthened by recent tax reforms and its resistance to the global economic crisis.

Panama: $1 Billion in Loans for Agriculture

November 2009

"Banco Nacional de Panamá" plans to assist the agricultural industry with low interest, 5-year loans.

These loans should be granted easier, as the collateral will be the animals in the ranches.

The limit will be $25.000, and they will complement the loans with specialized training, "so breeders learn techniques to handle the heavy droughts that are expected".

$30 million Loan Between State Telecoms Companies

November 2012

A new loan from the Instituto Costarricense de Electricidad will allow its subsidiary Racsa to stay afloat despite its finances continuing to deteriorate.

This is how things are reflected in its assets, which decreased between 28% and 29% over a period of one year, from October 2011 to October 2012.

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