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 Today

The Maritime Industry's original and most viewed E-News Service

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


SSA Welcomes Decision To Extend BEO

The Singapore Shipping Association (SSA) has welcomed the decision by Singapore’s Minister for Trade and Industry to extend the Competition (Block Exemption

Controversial Nicaragua Canal Project Postponed

China's Hong Kong Nicaragua Development (HKND) Co. said it is delaying the start of construction on a controversial $50 billion inter-ocean canal across Nicaragua until late 2016.

Dan-Bunkering Appoints Bara as Bunker Trader

Dan-Bunkering (Middle East) DMCC is pleased to announce that Lamin Bara has joined the office in Dubai as Bunker Trader as per 1 November 2015. Lamin was

Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators 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: 0.0792 sec (13 req/sec)