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Panama today finalized a founding agreement with Japan financing up to USD. 2,600 million for the construction of Line 3 of Panama Subway, the largest country’s infrastucture project since the enlargement of Canal. The monorail system will be the first with Japanese technology which is built on the American continent. The agreement also includes a technical cooperation non refundable for hiring Project Manager for USD. 35 millions.

“The financing gives us today Japan is a recognition of the strength and credibility of Panama “, said the President of the Republic, Juan Carlos Varela in a joint press appearance with Japanese Prime Minister Shinzo Abe. “Our economy is on solid supports and today we are demonstrating fundamentals,” he added. For the President, “Today is a historic day for relations between the two countries.”

Meanwhile, the Prime Minister reiterated that “this would be an historic project that will allow Japan bring high-quality infrastructure to Panama and Latin America.”

Source: Centralamericadata.com

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