Panama News: World Bank announces $400 Million Dollar Financing for the Panama Canal Expansion

Panama, Casco Viejo
Casco Antiguo, San Felipe

The World Bank is investing heavily in Panama. Yesterday, they announced that they are considering a $400 million dollar financing for the Panama Canal Expansion project.   The project is currently budgeted at $5,250 million dollars. So many zeros in those numbers I don´t even know what it means anymore. However, according to the note at La Prensa, the announcement was made in Washington by the President of the World Bank, Luis Alberto Moreno, during the visit of the President of Panama, Martin Torrijos.

The Panama Canal Expansion has a list of exclusive investors such as: the European Investment Bank (who has offered $700 million dollars) and the Corporacion Andina de Fomento (who has put $500 in the pot). I guess we have another $4,050 million dollars to go! should we organize a TShirt sale or a theatre night to raise funds?

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