The Republic of Panama and the Japan International Cooperation Agency (JICA) have signed a key agreement for the country's progress. The agreement, signed by the Minister of Economy and Finance, Felipe Chapman, and the Resident Representative of JICA in Panama, Shohei Tada, took place in the province of Panamá Oeste, during a ceremony held in the Patios and Workshops area of Line 3 of the Metro. The signing was attended by the Ambassador of Japan in Panama, Kazuyoshi Matsunaga, and Cesar Pinzón, General Director of the Panama Metro.
In his statements, Minister Chapman emphasized the importance of collaboration, mentioning that the Line 3 Metro project is progressing thanks to the support of Japan and JICA. He highlighted the benefits that this infrastructure will bring to the communities in the west, mentioning that top-level transportation will improve the quality of life for the region's residents. He also emphasized the favorable terms of the agreed loan, mentioning comfortable deadlines and a preferential interest rate.
The agreement includes a loan of 159.496 billion Japanese yen, equivalent to approximately 1.036 billion balboas, intended to finance the works of Line 3 of the Metro. Cesar Pinzón, General Director of the Panama Metro, thanked for the support received and highlighted the importance of this assistance for the project, which will be fundamental in modernizing the transportation system in the region.
For his part, the Ambassador of Japan in Panama, Kazuyoshi Matsunaga, stressed the importance of cooperation between the two countries, noting Panama's significant growth and highlighting the crucial role that Japan plays in its development. Line 3 of the Metro will be a transformative element in the city's transportation system, promoting efficiency and sustainability.
Line 3 of the Metro will connect the City of Panama with the province of Panamá Oeste, benefiting thousands of residents in one of the fastest-growing areas of the country. Additionally, the project has generated about 4,000 jobs, which has significantly contributed to Panama's economic growth. JICA, with over 60 years of presence in the country, has supported projects in various areas, improving the living conditions of the population.
In summary, the third loan agreement between Panama and Japan for the construction of Line 3 of the Panama Metro represents a fundamental step in the country's development, with benefits at both urban mobility and economic growth levels, and improvement of the quality of life for citizens.
