In the last few months, interest in credit cards has been increasing in the digital environment, a rise that is mainly explained by the behavior of consumers in Panama, Honduras, El Salvador and Costa Rica.
Through a system monitoring changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
At a regional level, nearly 16 million people are looking to purchase financial services online. Of this group of consumers, approximately 11% are exploring options for acquiring a credit card.
The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
Banco Centroamericano de Integración Económica signed a loan contract with the FCC Consortium to finance the six-lane extension of the beach corridor in Panama, Section I: La Chorrera-Santa Cruz.
The project "Expansion to six lanes, Las Playas Corridor, Section 1: La Chorrera-Santa Cruz, which has an approximate length of 36.3 kilometers, and begins at the end of the Arraiján - La Chorrera highway and ends at the entrance to Santa Cruz (before the crossing over the Lagarto River)," was awarded in November 2017.
The Panamanian government has authorized a $400 million loan between Empresa de Transimisión Eléctrica and Citibank, for the payment of the Third Transmission Line.
As detailed in the August 10 editions of the official newspaper, La Gaceta, the funds will be used to cancel Partial Payment Certificates, a format known as a Turnkey project.
The balance of bank loans granted by the national system up to March 2018 totaled $66.17 billion, 2% more than was reported in the same month last year.
According to figures from the Office of the Comptroller General of the Republic, between March of this year and the same month in 2017, the balance of loans granted by the national banking system grew by $1.1 billion, increasing from $65.07 billion to $66.17 billion.
The bill put forward by the Varela administration proposes regulating the operation of crowdfunding platforms, and creates the concept of Family Offices of Patrimonial Administration.
From a statement issued by the Ministry of Finance:
The Cabinet Council approved on Tuesday the Bill for the Modernization of the International Financial System of Panama, which seeks to introduce new solutions and services to strengthen supply and increase the competitiveness of Panama as a financial services platform.
The Development Bank of Latin America has confirmed another loan to finance the design and construction of the wastewater system in Arraiján and La Chorrera, in West Panama.
The funds will be executed by the Ministry of Health (MINSA) through the Coordination Unit of the Panama Sanitation Program (UCP).This is the seventh approval of a credit operation of the CAF to support the execution of the Panama Sanitation Program, which with this new disbursement reaches a total financing amount of USD 628 million.The resources of this operation will be used for the design and construction of networks and sewage collectors, as well as domiciliary and intra-domiciliary connections that allow houses to be incorporated into the sanitation system.
The Latin American Bank for Foreign Trade has granted Dos Pinos a syndicated loan of $100 million over five years, for three of the companies belonging to the cooperative.
The loan to Cooperativa de Leche Dos Pinos was structured as a "Club Deal" between Bladex, Banco General, S.A. and Banistmo, S.A., who acted as co-structurers.Bladex also serves as the Administrative Agent at the facility.
The National Economic Council has authorized a $50 million loan with the European Investment Bank to finance part of the West-Burunga Panama Sanitation program.
From a statement issued by the Ministry of Economy and Finance:
The National Economic Council (CENA) issued a favorable opinion on the B / .50 million loan agreement between the Ministry of Economy and Finance and the European Investment Bank (EIB) for the partial financing of the West-Burunga Panama Sanitation program.
The Swiss bank UBS is preparing a $619 million issue to partially finance construction of Panama's Metro Line 2, managed by Odebrecht and FCC Construcción.
As early as February it was reported that, after Citibank's departure,UBS and Inbursa had expressed their interestin taking on financing for the project."The issuance of notes will be done through Sparc EM, used by the Swiss bank to do these types of financing operations."
With the approval of a $137 million bank loan Panama Metro will be able to complete the process of buying 70 new cars for Line 1.
From a statement issued by the Presidency of Panama:
The Cabinet Council has authorized the finalisation of a loan agreement between the Republic of Panama, represented by the Ministry of Economy and Finance and ING BANK, A BRANCH OF ING-DIBA AG and Citibank, NA for 137 million 339 thousand dollars for the acquisition of 70 new train cars to be used for transport in the Panama Metro.
Reports state that the swiss UBS and Mexico's Inbursa are the banks that could lead the new financing structure for finishing construction of Line 2, which is currently 33% complete.
Following the departure of the group of banks led by Citibank, the construction consortium FCC and Brazil's Odebrecht have informed the Secretariat of the Panama Metro that negotiations have now been finalised with two banks to secure financing to complete the work.
The National Economic Council has approved funds to build the Higher Technical Institute of the East, in addition to the $150 million granted by Banco CAF.
From a statement issued by the Ministry of Economy and Finance:
In order to strengthen education and technical training in the eastern area of the country, (CENA) National Economic Council has approved B / .75 million dollars to finance the Higher Technical Institute of the East (ITSE), which will be located in Tocumen.
The consortium formed by Odebrecht and FCC Construction is negotiating with international banks to redefine the funding structure for the project, valued at $2 billion.
Since the start of the revelations of the corruption scandal in which the Brazilian construction company Odebrecht was involved, doubts have arisen about how this could affect financing of the construction project for Line 2 of the Panamanian Metro, whosecontract was awarded in June 2015under the turnkey format.
Citing that it has other revenue options, the airport administrators have postponed until 2017 an issuance of $50 million outstanding from the $625 million which was authorized.