The Export Import Bank of the U.S. is interested in companies or infrastructure projects in key sectors.
"We are interested in financing infrastructure projects in the logistics sector, ports, energy and roads, which are key to the commercial movement in this country", said the executive Sean Mulvaney, a member of the board of the U.S. government agency, who recently visited the canal country.
After closing the bond issuance with $1.5 billion, Inmet Mining has announced that it has $6.2 billion funding available, to cover the cost of the mine in Donoso, Panama.
The board of Inmet Mining, parent company of Minera Panama, has given permission for the construction of a copper mine in Donoso, Colon province.
Having gathered enough funding, Inmet Mining said it will proceed with building the mining project, in which it owns 80% of the shares. The remaining 20% is owned by the South Korean government consortium formed by Korea Resources Corp. and LS-Nikko Copper Inc. who injected $1.4 billion.
The Ministry of Economy of El Salvador has made available to employers a portfolio of funds to be disbursed during the year.
A press release from the Ministry of Economy of El Salvador reads:
Productive Development Fund (FONDEPRO) of the Ministry of Economy has made available to businesses, this January 20th , a portfolio of funds which are ready to be disbursed during the current year in order to improve competitiveness and create economic impact in El Salvador.
At the First Central American Forum on Energy and Infrastructure Project Finance, participants highlighted the number of ventures taking place in Central America in these sectors.
The Panama Canal expansion is just one example that stands out of the many investment projects in energy and infrastructure, both public and private, going on in Central America, in contrast to the sluggishness in Europe, according to participants in the industry forum held in Panama.
The Costa Rican Institute of Aqueducts and Sewers needs resources of $598 million immediately and $371 million in the short term.
The funds are for projects that were put to the bottom of the list and have now become a priority for the institution.
Eduardo Lezama, assistant manager of the institution, referred to the projects that need to be done urgently, "We need improvements in collection, in the distribution network sectors, in storage tanks or increased storage."
The regulations for the investment of venture capital funds, which were recently published by the Superintendency of Securities, have generated positive expectations from market participants.
Although there are differences of opinion, most experts in the field feel the addendum to the regulation of investment funds covers all the minimum elements that must be detailed in an instrument of this nature.
The primary objective of this scheme is the temporary investment in private bonds of recommended companies, which have not been registered on a stock market over the past five years.
Costa Rica’s National Council of Financial System Supervision approved the regulations covering the operation of the long-awaited Venture Capital Funds.
These instruments are an alternative for financing projects or companies, especially those which by their nature have limited access to traditional funding mechanisms.
The Ministry of Economy has announced the availability of non-refundable co-financing line entitled: "Dynamic Start Up: Seed Capital."
A press release from the Ministry of Economy of El Salvador reads:
The Ministry of Economy (MINEC), through the Productive Development Fund (FONDEPRO) on October 12 announced to businesses, support institutions for start-ups, and the general public, the availability of a co-financed NON-REFUNDABLE line called: "Dynamic Start Ups: Seed Capital" with the aim of promoting economic development in the country, supporting innovative projects with growth potential, and competitive advantages.
The organization will contribute $98 million for the construction of the Hydroelectric Project ‘Vegona’.
The IFC, a member of the World Bank and Oesterreichische Entwicklungsbank AG (OeEB) will provide $98 million to fund the largest hydropower project in Honduras, to be built by Compañía Hondureña de Energía Renovable S.A. (COHERSA).
The project will generate 181 gigawatt hours of electricity per year, and will be financed with a principal loan granted by the IFC, and another syndicated one to be provided by the Development Bank of Austria (OeBD).
The Inter-American Investment Corporation has approved a loan for the Panamanian hydroelectric project ‘San Lorenzo’, a plant that will generate 40 GWh per year.
The IIC loan to San Lorenzo Hydro, S.A. in Panama will help to promote renewable power generation.
Washington, D.C. - On September 13, 2011, Inter-American Investment Corporation (IIC) approved a loan to San Lorenzo Hydro, S.A. (HSL) for the amount of U.S. $10.5 million.
A feasibility study by a Chinese company for the development of a refinery in Costa Rica, is being questioned by the U.S company Honeywell.
Honeywell, a company specializing in oil industry, was hired by the Costa Rican Petroleum Refinery (RECOPE) to analyze the feasibility study was prepared by the Chinese consulting firm Huanqiu Contracting & Engeneering Corp. (HQCEC).
Costa Rican builders are objecting to the award to a Chinese company of a concession for building the hydroelectric station Reventazón, which came as a condition for funding from the Asian country.
A statement from the Costa Rican Chamber of Construction reads:
CCC Proposes to Fund 25% of Reventazon Works with Local Resources
The Costa Rican Chamber of Construction (CCC) is opposed the fact that the construction of the Reventazón is on condition that the Instituto Costarricense de Electricidad (ICE) includes an Asian company in the project.
The $300 million loan from a bank in China contains the condition that the company Sinohydro be allowed to participate in the project in Costa Rica.
The funding of $300 million accounts for 25% of the total cost of the works, said Teofilo de la Torre, chief executive of the Instituto Costarricense de Electricidad (ICE).
The executive from the ICE, said the institution is analyzing the request and that the decision will be taken before the end of this year.
The developers of a $40 million hotel are turning to the stock market for financing.
The financing structure to be used by the company in charge of building the 250-room hotel to be built in Panama City will be a combination of bonds, preferred shares and their own equity.
The National Union of Enterprises, in charge of the project, revealed its intention to use the stock market in the Investment Forum organized recently by the National Stock Exchange.
The construction project for the Jicatuyo and Los Llanitos dams still needs $150 million in funding.
The project has already raised $100 million from the Brazilian National Bank, $200 million from Banco Centroamericano de Inversión, $20 million of the Brazillian company Odebrecht (who will carry out the works) and $100 million from Empresa Nacional de Energía Eléctrica, ENEE.