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Colón to receive US$33mn for infrastructure development (Panama)
2011-03-10

Panama's national government will transfer US$183mn in property tax revenue collected from Colón province's district of the same name to provincial capital Colón.

 

Some US$33mn of the funds will be used to carry out various infrastructure development projects in the city, the economy and finance ministry (MEF) said in a release.

 

MEF's regional planning division, the comptroller general and officials from the mayor's office have formed a taskforce to define the best use of the funding.

 

Projects under consideration include a beltway surrounding the city, the renovation of parks, construction of a public market and modernization of municipal buildings.

 

The housing ministry will use US$150mn of the funding for construction of new homes in the city.


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