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Panama: Loan Approved for Metro Line 3

The government has endorsed the first loan from the Japanese cooperation of $262 million to finance technical and financial studies for Line 3 of the Panama Metro.

Monday, March 28, 2016

From a statement issued by the Foreign Ministry of Panama:

The Cabinet Council authorized on Tuesday the signing of a loan agreement between Panama and the Japanese International Cooperation Agency (JICA) in the amount of up to 29,575 million Japanese yen ($262.102.448.23) for the "Project Line 3 Urban transport for the Metropolitan area of Panama ".

This endorsement comes afte terms were agreed on January 14, between the governments of Panama and Japan for technical and financial cooperation for the construction of Line 3 of Metro of Panama to the province of Panama West.

See also: "Panama: Preliminary Agreement for Metro Line 3"

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Goods

financing

Key entities

Japan International Cooperation Agency Ministry of Economy and Finance (Panamá) Metro de Panamá

Countries

Panama Japan

Insight

subway Panama subway construction Public transport public infrastructure agreements international loan Infrastructure & Construction Transportation

$2.6 billion Available for Metro Line 3

April 2016

The financing agreement signed between the governments of Panama and Japan includes a non-refundable $35 million for recruitment of the Project Management company.

From a statement issued by the Presidency of Panama:

Panama today finalized a landmark agreement with Japan for financing of up to B /.

Panama: Preliminary Agreement for Metro Line 3

January 2016

The Japanese government has pledged $2 billion to finance line 3, which will use technology from China with the construction contract being awarded in the first half of 2017.

The governments of Panama and Japan have established the terms of the technical and financial "cooperation project for construction of Metro Line 3 between Panama and the province of Panama West.

Japan Wants to Participate in Mega Works in Panama

January 2014

Participation in the construction of the Metro Line Three and the third bridge over the Panama Canal could be undertaken through the International Cooperation Agency of Japan.

Hiroaki Isobe was, Japanese Ambassador to Panama, said there is interest from that country in financing the construction of Metro Line Three and a third bridge over the Canal.

Japan to Finance Line 3 of Panama Metro

July 2013

The Japanese government will finance the construction of the 21 kilometers of the planned Metro Line 3, including the bridge for crossing over the canal.

From a press release by the Ministry of Foreign Affairs in Panama:

The Japanese government has agreed to fund the construction of Metro Line 3 and a new bridge over the canal, using the most advanced technology that is available for this type of work, said the Foreign Minister, Fernando Nunez Fabrega.