Release date: 13 July 2015
Promoter – Financial Intermediary
MINISTERIO DE SALUDLocation
Description
The project will improve the environmental conditions of Panama City and Bay by doubling the current treatment capacity of 190 000 cubic meters per day of the Juan Díaz Wastewater Treatment Plant.
Objectives
This project is the main component of the second phase of the Panama City and Bay Sanitation Programme, which will continue to contribute to the Panama Government's efforts to increase the country's pollution abatement and environmental sustainability. It will treat the wastewater produced by approximately 400 000 people, which is currently discharged into rivers and into Panama Bay without any treatment. It will also indirectly have a positive economic impact on the metropolitan area of Panama. The project is in line with the EIB Water Sector Lending Policy and it also complies with the External Mandate for EIB activity in Asia and Latin America through the development of social and economic infrastructure.
Comments
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 44 million (USD 50 million)
Total cost (Approximate amount)
EUR 138 million (USD 157 million)
Environmental aspects
The project will have a very positive environmental and social impact for the population of Panama City. It will significantly reduce wastewater direct discharges into rivers and into the bay thus contributing to improving public health and environmental conditions in the beneficiary area. The project's compliance with environmental and social principles of the EU, the EIB and the other IFIs, together with the applicable national environmental legislation and issues related to adaptation to climate change will be verified during the appraisal.
Procurement
The Bank will require the promoter to ensure that the procurement of the project is carried out in line with EIB procurement guidelines.
Status
Signed - 28/01/2016
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).