Units converter
Quotes on line
2015 World Crane and Transport Summit
2014 International Cranes and Transport Latin America
World of Concrete 2015

   Search News
Council approves US$400mn CAF loan for Panama City metro (Panama)

Panama's national economic council (Cena) has authorized the economy and finance ministry (MEF) to sign a US$400mn loan contract with Latin American development bank CAF.

The funds will be used to partially finance Panama City's metro system line 1, MEF said in a release.

Panama's metro authority signed a US$1.45bn contract in November last year with a consortium comprised of Spain's FCC and Brazil's Odebrecht to build and operate Line 1.

The 13.6km line will run from Los Andes district's San Miguelito neighborhood in the north of the city to the Albrook bus terminal in the south, with 11 stations in total.

Cena also approved US$25mn for MEF to create a financial stabilization fund earmarked for Panama City's Metrobus public transport system.

The fund will be administered by HSBC and will be used if concessionaire Tranporte Masivo de Panama hits a cashflow deficit. The fund was part of an agreement to lower fares from US$0.64 to US$0.45, the release said.

Send this publication to a friend

More news
Shakeup at Ferrobaires over February accident (Argentina)
Argentina's Buenos Aires provincial government has replaced several high-ranking officials at state-owned rail operator Ferrobaires following a rail accident in February this year. ...
Paraíba pushing to speed up PAC projects (Brazil)
Brazil's federal and Paraíba state governments are discussing projects under the country's growth acceleration plan (PAC) aimed at improving transportation logistics in the northeastern stat ...
Interoceánica Sur generating US$3bn - Ositran (Peru)
Peru's 2,500km Interoceánica Sur highway has generated economic benefits of over US$3bn for the country, according to transport regulator Ositran president Juan Carlos Zevallos. ...