Tendersinfo keep you informed about the latest events in the national and international Procurement Industry. Procurement News provides in-depth coverage of the procurement industry, including contract awards, contract additions, new contract wins, mergers and acquisitions. Tendersinfo through its tender news section provides an update on all domestic and global tendering opportunities, invitation to bid & trade leads.
UNITED STATES : PANAMA gets $100 million loan from the Inter-American Development Bank
Publish Date : 06-Mar-2012
Panama is in efforts to expand its capacity to survive natural calamities, such as flooding which in 2010 disturbed navigation on the Panama Canal.
The floods that occurred in 2010 had affected around 16,000 people. $150 million was the cost of carrying out repairs to the infrastructure and towards economic recovery.
The Inter-American Development Bank has granted a standby loan of $100 million.
Juan Jose Durante, the IDB’s project team leader stated that, “Rapid access to liquidity will reduce the impact that any emergency may have on public finances, ensuring greater stability in long-term economic growth.”
The World Bank says, Panama has the 14th-greatest exposure in the world to natural disasters.
The loan amount will assist various services, such as medical equipment, vaccines and temporary shelters.
