Panama: Lack of Funding for Canal Bridge


News from Panama / Tuesday, September 15th, 2015

third bridge

The Canal Authority will go to the international market to seek funding to complete the construction of the third bridge, which is 34% complete.

From a statement issued by the Panama Canal Authority:

The Panama Canal Authority (ACP) announced today its intention to partially finance on international capital markets construction of the bridge over the Canal on the Atlantic side.

Construction of the bridge is an obligation of the Canal established in Article 3 of Law no. 28, of July 17, 2006, approving the proposed construction of the Third Set of Locks. Work to build the bridge over the canal on the Atlantic side started in January 2013 and it is currently 34% complete.

The ACP has received investment grade rating A2 / A- / A from the international consultants Moody’s, Standard & Poor’s and Fitch.