The Inter-American Development Bank will lend USD55.5 million to foster rural development and modernize a public power firm in Panama. Of the amount, USD43 million will be used to bolster free trade, environmental protection and agricultural development in the central provinces of Cocle, Herrera, Los Santos and Veraguas. The rest will back an investment and corporate transformation initiative for the public electric transmission company, Empresa de Transmision Electrica. (“Panama will foster development of central provinces and modernize its electric transmission company with support from the IDB” - Inter-American Development Bank, Oct. 10, 2008)