Approve $ 300 million for social and logistical sectors


The Inter-American Development Bank (IDB) said it approved a loan of 300 million dollars to the Panamanian State for investment in social protection programs and improvements to the institutional framework and capacities of the national logistics sector.
With half of the loan will seek to “increase transparency, efficiency and coverage of conditional cash transfers” (cash assistance) to people in poverty and extreme poverty, the IDB said in a statement.
Specifically seek to improve the targeting of beneficiaries, increase the percentage of verification of the responsibilities of the beneficiaries, and make a record of them only serve as interconnected payment platform.
With the other half of the loan is intended to strengthen “the legal, institutional and operational framework and the processes of trade facilitation agency planning” and human resources in the logistics sector, which, according to the IDB, is strategic for Panama.

Among the measures that come with these objectives are the creation of a Ministry of Competitiveness and Logistics and the formulation of a Master Plan of Logistics and a estretegia to expand the supply of technical human resources in logistics.
“Together these actions will improve the planning of investments in the Panama Canal area and the rest of the country, increase foreign investment levels for the logistics sector and foster the development of value-added logistics services” the statement said the IDB.
Both loans have a repayment term of 15 years, a grace period of 1 year and interest rate based on Libor.


Ernesto Chong de León, Ernesto Emilio Chong Coronado