CABEI to finance electric transmission system in Panama with US$50 million
This agreement represents a further step in CABEI's strategy as the region's strategic partner in providing financial solutions.
CABEI has supported Panama in the energy area with approvals for US$336 million.
Tegucigalpa, February 28, 2019.- The Central American Bank for Economic Integration (CABEI) approved a US$50 million loan to the Panamanian electric transmission company denominated, "Empresa de Transmisión Eléctrica, S.A. (ETESA)."
The objectives of this operation involve providing additional short-term resources to meet ETESA's priority investment needs by accelerating the start of activities related to the addition of assets in the high-voltage electrical infrastructure owned by the company.
CABEI Executive President, Dr. Dante Mossi, highlighted that the objective is to contribute to the growing demand in order to maintain a reliable and safe quality service, stating that, "The Bank seeks to promote initiatives with high environmental impact, reducing energy consumption and promoting natural resource conservation through the provision of environmentally-friendly, innovative and quality services."
It is expected that the loan will benefit more than 1,042,700 users of the Panamanian energy distribution systems and maintain ETESA's 428 current fixed jobs, of which 28% are held by women.
