Panama: US$400 million loan approved for Panama canal expansion

The Andean Development Corp. has announced the approval of a US$400 million loan to help expand the Panama Canal.

The money is part of a $2.3 billion package that the Panama Canal Authority said it would receive from five lenders, including the Washington-based Inter-American Development Bank and the Japan Bank for International Cooperation.

Expansion involves the construction of two wider locks to double the canal's capacity by 2014.

Published by Mike Hitchen, Mike Hitchen Consulting
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