Panama Canal Expansion Gets Donors Support

The Inter-American Development Bank, Andean Development Corp., International Financial Corp., Japan Bank for International Cooperation and European Investment Bank will jointly contribute USD2.3 billion for the expansion of the Panama Canal, currently the biggest infrastructure project in Latin America. “Our loans to support the expansion of the canal are in line with our collective objectives of supporting economic growth, facilitate world trade, build infrastructure with a solid environmental focus and create employment opportunities,” IDB President Luis Alberto Moreno said. (“IDB, Panama sign loan agreement for expansion of the Panama Canal, biggest infrastructure project in Latin America” - Inter-American Development Bank, Dec. 10, 2008)

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