{"id":31758,"date":"2021-08-02T10:53:21","date_gmt":"2021-08-02T15:53:21","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=31758"},"modified":"2021-08-02T10:53:21","modified_gmt":"2021-08-02T15:53:21","slug":"cabei-expects-disburse-us400-us500-million-panama-year","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/cabei-expects-disburse-us400-us500-million-panama-year\/","title":{"rendered":"CABEI expects to disburse US$400 to US$500 million to Panama this year"},"content":{"rendered":"

\"See<\/p>\n

The Central American Bank for Economic Integration (CABEI) estimates that this year it will disburse between US$400 and US$500 million to Panama, a country to which it has approved more than US41.16 billion for water, infrastructure, health, and research projects.<\/p>\n

\u201cI would expect Panama to easily disburse some US$4.4 \u2013 4.5 billion\u201d this year, \u201cbetween budget support projects, resources for infrastructure projects and resources from the financial sector, which are private\u201d, said CABEI president, Dante Mossi, this Friday (30) in a virtual conference.<\/p>\n

Read also:\u00a0Check out our coverage on Panama<\/a><\/p>\n

The president of the multinational financial institution, founded in 1960, indicated that \u201conly with the projects approved in 2020, it is expected to impact positively more than 613,000 people through different social programs, the development of five emergency attention initiatives, as well as the generation of jobs.<\/p>\n

\"\"
CABEI country manager, Carlos Moreno, indicated this Thursday that the resources were approved \u201cunder the CABEI-Korea single donor fund\u201d (Photo internet reproduction)<\/figcaption><\/figure>\n

CABEI disbursed loans to Panama for the public sector for a total of US$400 million in 2020, according to data from the institution, which Panama joined as a member in 2006.<\/p>\n

INFRASTRUCTURE PROJECTS<\/p>\n

Among the financing approved for Panama is US$4.45 million for the Corredor de las Playas project, which has suffered delays and design changes that have not affected the bank\u2019s willingness to support, which will adjust the amount to what is finally carried out, CABEI said.<\/p>\n

In the first half of this year, non-reimbursable technical cooperation totaling US$3.6 million was approved, including one for US$630,000 for feasibility studies for Line 5 of the Panama Metro subway.<\/p>\n

CABEI country manager, Carlos Moreno, indicated this Thursday that the resources were approved \u201cunder the CABEI-Korea single donor fund\u201d and that with the beginning of the negotiations, \u201cthere would be some possibility that Line 5\u201d would begin to be built before the end of this decade, as planned.<\/p>\n

\u201cWe are very optimistic that this project could be significantly advanced. Obviously, this is a decision of the authorities,\u201d said Moreno, who specified that Line 5 would start in a sector of the capital\u2019s waterfront, cross the banking area and end up connecting with Line 2.<\/p>\n

Panama is the only Central American country with a subway system. It has operational lines 1 and 2, in charge of the consortium formed by Odebrecht and FCC, with an overall cost of about US$4.3 billion. In comparison, line 3 is built by the Korean consortium HPH Joint Venture with an investment of at least US$2.8 billion.<\/p>\n

In 2016 the Panama Metro reported that 8 lines of the subway system were projected to be operational by 2040.<\/p>\n

ECONOMIC RECOVERY AFTER COVID-19<\/p>\n

CABEI approved Panama for US$250 million in a Development Policy Operation in Response to the Pandemic and Panama\u2019s Growth Recovery, which has already been fully disbursed.<\/p>\n

This operation is intended to provide financial support to the country to address the economic crisis generated by the Covid-19 pandemic and support the country\u2019s recovery through the \u201cprotection of human capital and strengthening of institutions\u201d.<\/p>\n

It is intended to foster an inclusive and environmentally sustainable economic recovery, Moreno said. \u201cWe have to work to get out of the health crisis and move towards economic reactivation (\u2026) CABEI has been committed to Panama,\u201d said Mossi.<\/p>\n

The CABEI president commented that 2020 was \u201ca record year\u201d for the financial institution, as \u201cnew credits for more than US$3.6 billion were granted\u201d to the entire region and \u201cclose to US$2 billion were disbursed\u201d precisely because of the emergency caused by the pandemic.
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    The Central American Bank for Economic Integration (CABEI) estimates that this year it will disburse between US$400 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