THE PMA & THE CAF SIGN TECHNICAL COOPERATION AGREEMENT FOR THE REACTIVATION OF PUERTO ARMUELLES AND THE CREATION OF AN INTERMODAL DRY CANAL.

A technical cooperation agreement for the revival of Puerto Armuelles and the creation of an intermodal dry canal was signed today between the Panama Maritime Authority (PMA) and the CAF – the Development Bank of Latin America.

By signing this agreement, the financial institution provides support to the PMA, contributing with one hundred thousand US dollars (USD 100,000.00) that are meant to create a business model for the project in Puerto Armuelles (Chiriqui).  This contribution shall focus on the financing of a technical study, which will allow the realization of a viable model that promotes the private investment in the intermodal dry canal between Puerto Armuelles (on the Pacific coast) and a complementary port, (on the Atlantic coast).

The Executive President of CAF-Development Bank of Latin America, Mr. Enrique García – who signed the technical cooperation agreement with the Administrator of the PMA, Mr. Jorge Barakat Pitty – reaffirmed the commitment of this institution to the overall development of the country, to the strengthening of the institutions and the improving of the logistics sector.

Similarly, the CAF has signed agreements with six other entities, such as the Energy Secretariat, the Ministry of Foreign Affairs, the Foundation for the Conservation of Natural Resources (NATURA), the Ministry of Labor and Social Development, the Ministry of Public Security and the National Institute of Pipelines and Sewerage (IDAAN), for the implementation of projects and studies that optimize Panamanians’ quality of life.

The mission of the CAF – Development Bank of Latin America is to promote the sustainable development and the regional integration, by financing projects within the public and private sectors, providing technical cooperation and other specialized services.