Panama became a non-founding regional CABEI member in 2007. At the close of 2020, it had a shareholding of 4.84% and US$ 64.00 million in capital contributions.
Its subscribed capital is US$ 358.40 million. Between 2016-2020, Bank approvals to the country reached the US$ 1.8 billion, while disbursements for that same period totaled US$ 1.7 billion. Specifically in 2020, CABEI channeled approvals amounting to US$ 400.0 million and disbursements totaling US$ 738.0 million to meet the population’s needs stemming from the COVID-19 emergency and to support economic recovery.
CABEI supports the National Interconnected System Innovation Strategy formulation in Panama
Through technical cooperation, consulting services are contracted for the development of the Innovation Strategy.
Panama City, November 18, 2021.- The Central American Bank for Economic Integration (CABEI) approved non-reimbursable technical cooperation in the amount of US$18,900 for the National Interconnected System (SIN) Innovation Strategy formulation in the Republic of Panama, which will make it possible to prioritize actions to boost the country's energy sector.
With the development of this study, the structure, operation, commercialization, and regulation of the electrical system will be updated, as a result of the integration of renewable energies in the country's generation network. It will also incorporate aspects for the control of the networks and the future entry of large-scale energy storage, considering the development of policies and regulations in accordance with the needs of Panama's electrical system.
"With these resources, CABEI will contribute to making Panama's energy sector more accessible, reliable, safe and sustainable. Supporting these initiatives translates into improved competitiveness and economic development, positively impacting job creation and the quality of life of the population," said CABEI Executive President Dr. Dante Mossi.
This operation is in line with CABEI's 2020-2024 Institutional Strategy, contributing to the strategic axis of Human Development and Social Inclusion, through which it seeks to generate social capacities that lead to achieving the objective of improving the wellbeing and quality of life of the inhabitants of its member countries.
