For the benefit of 2.5mn Panamanians, Cabei disburses US$23mn for the Corredor de las Playas Project

By Cabei

This is a machine translation of the original press release issued in Spanish

Panama City , April 26, 2023.- On the eve of its next Ordinary Meeting of the Board of Governors and reaffirming its commitment to the social and economic development of its member countries, the Central American Bank for Economic Integration (CABEI) made the first disbursement for an amount of US$23.0 million, through an innovative scheme of partial payment accounts (CPPs), for the advancement of works of the Corredor de las Playas Project, an initiative that will reduce travel time on the only road that connects the capital with the interior of the country and the beach area.

The new work, which includes the construction of a 1.72-kilometer-long viaduct and the rehabilitation of 4.42 kilometers of highway, which begins in the La Espiga sector on the La Chorrera highway, and ends in the area of Hacienda Los Calderones , presents a 26.4% progress, and plans to benefit more than 2.5 million people directly and indirectly by reducing their travel times and strengthening their road safety.

"We are pleased to see the progress of this important work in our partner country Panama, we are convinced that the modernization of the road infrastructure in the region allows us to contribute to the well-being of people, the development of communities, and the creation of job opportunities and social, which is in line with our strategic axes of Human Development and Sustainable Competitiveness”, affirmed the executive president of CABEI, Dr. Dante Mossi .

CABEI recognizes the importance of the Las Playas Corridor Project as a necessary project and the response expected by a population with sustained growth. The proximity of this new viaduct to the metropolitan area will impregnate the economy and the logistics sector with greater dynamism, and its completion is scheduled for the end of 2024.