Saturday, July 08, 2006

IDB helps attract investment to Panama

(Source Article: IDB approves loan to Panama -

Recently, the Inter-American Development Bank approved a $5 million loan to Panama to improve the climate for investors and prepare the country for free trade. This is in addition to a previously approved $100 million loan given to help boost growth in the Central American country.

Panama, with a modest population of 3.02 million, currently has approximately $2.2 billion worth of loans, having added three loans totaling $150 million this year. The IDB itself is involved in a number of programs to support Panama’s emerging economy: infrastructure work to improve bridges and roads, poverty mitigation programs and programs aimed to boost private sector participation in tourism are just a sampling of IDB’s involvement with the country. (see IDB and Panama –

The new loan is aimed at improving technical assistance, assuring that resources are properly allocated to productive activities and supporting the participation of the private sector in job training throughout the country. Assistance will also be provided to institutions, such as the Consumer Protection and Competition Authority and the National Office for the Administration of Trade Agreements and Remedies. (see also IDB approves loan to Panama for fiscal, pension and trade reforms –

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