Panama: New Strategic Partnership Includes US$400 Million in Loans

The World Bank's Board of Directors analyzed the new Country Partnership Strategy (CPS) for Panama centered on creating opportunities for all Panamanians.

Friday, September 24, 2010

The new strategy corresponds to the 2011-2014 period and contemplates flexible loans for a total sum that will depend on the government's specific demands, as well as a series of consultancy and analysis services that will be defined jointly with authorities.

It contemplates US$300 million for fiscal year 2011, and US$100 million for FY 2012.

The strategy supports the governmental program and stands on three main pillars: economic growth based on the country's competitive advantages; providing greater opportunities for all and consolidating an efficient and transparent public sector.

“This new strategy, designed jointly with the Panamanian government, supports the current administration in promoting economic growth and competitiveness, improving access to and the quality of rural an urban roads, as well as better education, promoting the productive capacity and climate change and natural disaster risk management, among other areas,” said Laura Frigenti, World Bank Director for Central America.

In order to create more opportunities for all, the
strategy will improve access to and the quality of basic health and nutrition services, placing special emphasis on child and reproductive health in rural areas and those with indigenous populations. It will also improve social protection services and access to water and sanitation services.

The work plan intends to increase the transparency and efficiency of the public sector, optimizing spending and reducing paperwork. It will also create systems to evaluate the results obtained by the public sector. It will modernize financial and auditing systems, as well as the property tax collecting system.

Currently, the World Bank's portfolio in Panama includes six loans and a grant from the Global Environmental Facility totaling US$ 181.4 million. The operations financed by the multilateral organization comprise the areas of health, social protection, rural development and infrastructure.

More on this topic

$ 32 Million from WB for MSMEs in Guatemala

March 2011

The project will improve productivity of MSMEs in tourism and agribusiness.

For this, the World Bank will invest U.S. $ 32 million to strengthen their added value products, quality and integration to national and international markets.

"Micro, small and medium businesses generate most jobs in Guatemala, this project will help promote growth and increase their productivity," said Felipe Jaramillo, World Bank Director for Central America. "Promoting sustainable growth and productivity is one of the World Bank´s priorities for the Partnership Strategy with Guatemala," he added.

$ 10 Million for Financial Management in Nicaragua

October 2010

The loan from the Inter-American Development Bank (IDB) will provide more efficiency and transparency in public expenditure.

Nicaragua will improve the efficiency and transparency of public expenditure and modernize the process and management systems of state finances with the help of a loan of U.S. $ 10 million from the Inter-American Development Bank (IDB).

Guatemala: World Bank Approves USD 350 Million Loan

July 2009

The World Bank Board of Directors approved a USD 350 million Development Policy Loan (DPL) for the government of Guatemala.

With the objective of continuing to support the country’s efforts to improve its fiscal and institutional policies and mitigate the impact of this global crisis.

High speed internet is key to economic growth

July 2009

Access to affordable, high quality internet and mobile phone services enables development across all levels of the economy and society.

The report by the World Bank, "Information and Communications for Development 2009: Extending Reach and Increasing Impact" takes an in-depth look at how ICT impacts economic growth in developing countries.

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