Release date: 18 March 2008
Promoter – Financial Intermediary
Autoridad del Canal de Panama.Location
Description
The project consists of the expansion of the Panama Canal through the addition of a third set of locks.
Objectives
To increase the Canal’s capacity and to improve its competitiveness.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to USD 500 million.
Total cost (Approximate amount)
EUR 3,900 million.
Environmental aspects
If the project had been within the EU, it would fall under Annex I of the EU Directive 97/11 and would require an EIA. The Panama Environmental Authority has classified the project in the “III” category, requiring the preparation of a full EIA.
The EIA has been carried out and the environmental authorization was issued in November 2007.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in compliance with the Bank’s Guide to Procurement. The Promoter’s procurement strategy and procedures will be reviewed during appraisal.
Status
Signed - 5/01/2009
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).