Bank President Visits Panama Canal Locks

Press Release
Tuesday, March 12, 2013
IDB Delegates: Photo credit PCA

President of Inter-American Development Bank (IDB), Luis Alberto Moreno, visits the construction site of the new locks in Colon province.

The new locks, situated on the Atlantic side, were visited by Moreno, accompanied by IDB delegates, who are in Panama to participate in the Fifty-Fourth Annual Meeting of the Board of Governors which takes place from March 14 to 17, 2013. During the visit, Panama Canal Administrator Jorge Luis Quijano presented an update on the progress of the Expansion Program.

The Panama Canal Administrator highlighted the importance of this visit since the IDB is one of the five multilateral institutions that are supporting the Expansion Program through partial funding.
 
The IDB, together with the Japan Bank for International Cooperation (JBIC), the European Investment Bank (EIB), the Corporación Andina de Fomento (CAF) and the International Finance Corporation (IFC), signed an agreement with the Panama Canal Authority in December 2008 for the financing of $2.3 billion for the waterway's expansion to cover a portion of the $5.25 billion total cost of the project.
 
The Panama Canal Expansion will double the waterway’s capacity through the construction of two new locks that will add a third lane, allowing the transit of more cargo and larger vessels.
 

 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Termination of Seadrill Unit's and Rosneft Deal Extended

North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement,

Qatar to Contract 6,000 Rooms on Cruise Ships for 2022 World Cup

Reviving an idea to lodge some football fans and guests during the 2022 World Cup in “floating hotels,” the Qatar Tourism Authority (QTA) has announced plans to contract at least 6,

USN Names Littoral Combat Ship

Secretary of the Navy Ray Mabus announced today that the next Freedom-variant littoral combat ship (LCS) will be named USS St. Louis. The future USS St. Louis,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3171 sec (3 req/sec)