President José Raúl Mulino announced a financing program of US$500 million, managed with the international banks Citi and BBVA, to boost the national economy through the Savings Bank. This plan will prioritize the support of small and medium-sized enterprises (SMEs), seeking to promote productive development and job creation throughout the country.

With contributions of US$250 million from each bank, Mulino highlighted that this agreement reflects the trust of global financial institutions in Panama and reaffirmed that economic growth will not depend on subsidies, but on alliances with the private sector.

The president also took the opportunity to criticize the discriminatory tax lists on which Panama appears, stressing that agreements like this demonstrate the international recognition of the country. “Panama is an example of credibility in the financial field, even newly joined Mercosur and with our next participation in the UN Security Council,” he said.

Andrés Farrugia, manager of the Savings Bank, said that this financing will inject “fresh money” for the productive sectors, resulting in direct benefits for citizens.

Representatives of Citi and BBVA, Susana García and Marisa Pardo, participated in the signing of the agreement, consolidating cooperation between the international financial system and Panama to promote a solid and sustainable economic recovery.