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 mission visits the Beach Corridor Project
To date, this initiative has disbursements of US$40.0 million.
Panama City, July 10th, 2023 - In order tosee first-hand the physical progress of the projects currently being executed with the financial and technical support of the Central American Bank for Economic Integration (CABEI), a high-level mission from the multilateral recently visited the Beach Corridor Project, an initiative that will reduce travel time on the only road that connects the capital with the interior of the country and the beach area.
This key project for the country, which generates 600 temporary direct jobs, 15% of which are occupied by women, and which will benefit more than 2.5 million Panamanians by reducing travel time and strengthening road safety, is currently 42.0% complete.
The field tour, which included the participation of the Minister of Public Works, Rafael Sabonge, and CABEI's Executive President, Dr. Dante Mossi, included a tour of the works that include the construction of a 1.72 kilometer long bypass and the rehabilitation of 4.42 kilometers of roadway, which begins in the La Espiga sector of the La Chorrera highway and ends in the Hacienda Los Calderones area.
The multilateral recognizes the importance of this project, which will have a positive impact on tourism, a sector traditionally identified as one of the main pillars of Panama's economic development, as well as on the more than 55,000 users who use the road daily.
