CAF approved funds for construction of Metro Line 1 in Panama City.
Enrique Garcia, CAF´s CEO, stated: "By supporting this project, CAF aims to significantly contribute to the improvement in the quality of life of Panamanians, especially those living in remote areas of the city center. The metro will reduce their travel time, contribute to the mitigation of pollution generated by current transportation and facilitate other activities which take place in the city with a positive impact on levels of competitiveness."
Infrastructure Project Will Ease Traffic Congestion in Capital City, Reduce Travel Times, Increase Access from Outskirts.
The Multilateral Investment Guarantee Agency (MIGA)--the political risk insurance arm of the World Bank Group--today announced it is supporting the government of Panama's efforts to construct a modern and integrated mass-transit system as a solution to Panama City's urban transportation issues. In connection with the financing plan for this ambitious new infrastructure investment, MIGA has issued a guarantee of $320 million to cover a $250 million loan arranged by Citi Transaction Services and Citigroup Global Markets, Inc (Citi) including interest and other financing costs associated with the construction of Line 1 of the metro system. This project represents MIGA's first coverage of non-honoring of sovereign financial obligations in Latin America and the Caribbean.
Situated on the Azuero Peninsula, the Cubitá Boutique Resort & Spa hotel comprises of 100 luxury rooms, a convention center, a shopping mall and a residential area.
From an article published by Grupo Cubitá:
On October 12, 2013 a new chapter will be written in the history of the Azuero Peninsula with the official opening of the acclaimed Cubitá Boutique Resort & Spa, the first project of its kind in the Republic of Panama. An original creation by the Panamanian financier Ivan Eskildsen and his wife Maria Amelia Pezzotti, Cubitá Boutique Resort & Spa is a unique combination of world-class services with the colonial charm of the Azuero Peninsula, long regarded as the cradle of Panamanian culture and folklore.
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The hotel is immersed in 45 hectares of primary and secondary forest , at the foot of the majestic Arenal Volcano , which makes it a true oasis of peace, enriched by an exuberant vegetation and diverse fauna. Montaña de Fuego has become one of the most beautiful hotels in the area, with one of the most privileged panoramic views of the Arenal Volcano.
Operates in Costa Rica, Honduras and Panama
Phone: (506) 2479 1220 - (506) 2479 1220
We are one of the best luxury hotels in San Jose, we have five-stars for business or pleasure travel.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica
Phone: (506) 2523 1266 - (506) 8378 1266