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Data sheet
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Summary sheet
Release date
18 March 2008
Status
Reference
Signed | 05/01/2009
20060467
Project name
Promoter - financial intermediary
Panama Canal Expansion
Autoridad del Canal de Panama.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to USD 500 million.
EUR 3,900 million.
Description
Objectives
The project consists of the expansion of the Panama Canal through the addition of a third set of locks.
To increase the Canal’s capacity and to improve its competitiveness.
Environmental aspects
Procurement
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.
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.
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