Panama Nails Down Canal Funds

Panama Nails Down Canal Funds

Panama

Infrastructure projects are being delayed across LatAm, but the strategically important Panama canal appears resilient. The Panama Canal Authority (PCA) has secured $2.3bn from multilaterals to finance expansion, bypassing an originally considered commercial bank tranche. The 20-year loan package includes a 10-year grace period and breaks down into $800m from JBIC, $500m from the EIB, $400m from the IDB and $300m each from the IFC and CAF. The canal will pay an average effective interest rate of

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