Andean Development Corporation News

Representatives from the multilateral institutions financing the Panama Canal Expansion Program visited today the new locks project construction in the Pacific side as part of their regularly scheduled visits. Experts from the Inter-American Development Bank (IDB), the European Investment Bank (EIB), Japan Bank for International Cooperation (JBIC), International Financing Corporation (IFC) and the Andean Development Corporation (CAF) participated in meetings for two days and visited the Expansion Program construction site. ACP executives made a comprehensive presentation of the current status of the project, including details of the work stoppage by Grupo Unidos por el Canal, S.A. (GUPC), the new locks project contractor.

Representatives from the five multilateral institutions that have signed agreements for the financing of the Panama Canal Expansion Program took part in the annual visit organized to oversee the program’s progress. “This visit is part of the agreement signed between the Panama Canal Authority and the five institutions that have provided partial financing for the Expansion Program,” Panama Canal Administrator Jorge L. Quijano said at the end of the tour. The delegation included experts from the Inter-American Development Bank (IDB)…