Luis Alberto Moreno News

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.

On December 9, Panamanian President Martín Torrijos and Panama Canal Authority (ACP) Administrator/CEO Alberto Alemán Zubieta signed a $2.3b agreement with leaders from five multilateral and development agencies to finance the waterway’s most historic project to date: expansion. In an official ceremony held at Panama’s Ascanio Arosemena Auditorium, Mr. Alemán Zubieta and top executives from the five agencies signed the agreement to officiate the financing package, which will cover a portion of the $5.25b Canal Expansion Program.