USD 115 million to improve roadways and transportation in Panama
The loan complements other CAF actions in the country such as the financing for Line 1 of Panama's Metro
CAF, Development Bank of Latin America, approved a long-term loan of USD 115 million to Panama for the development of a program to promote road infrastructure and the quality of transportation in the country.
The program is in line with the objectives defined in the Government's Strategic Plan, and it has a strong sectorial focus which includes several aspects, such as improving the management of the road network, optimization of land transportation, development of alternative connections between the International Airport of Tocumen and Panama City, the design of a comprehensive transportation system that guarantees better services for the population, improvements in maintenance, sign posts, and road infrastructure safety, and gathering of information, statistics, and related indicators.
Enrique Garcia, CAF's Executive President, stated, "This loan seeks to promote a sustainable mobility system for Panama, which leads to an improvement in the quality of life of its inhabitants and the modernization of the country's roadways. The loan complements CAF's actions in the national transportation system, which includes the institution's support for the construction of Line 1 of Panama's Metro".
CAF's actions in the transportation system are aimed at supporting shareholder countries in their efforts to construct and maintain a sustainable infrastructure, efficient and modern, as a basic condition to achieve the proposed goals of economic competitiveness and social inclusion.