The European Investment Bank (EIB) announced on Tuesday the signing of a $300 million loan for the modernization of Panama's electricity distribution network. The agreement was confirmed during a bilateral meeting between EIB President Nadia Calviño, Panama's Minister of Economy and Finance Felipe Chapman, and President of the Republic José Raúl Mulino. This loan aims to strengthen the partnership between the EIB, the government of Panama, and the local business sector, focusing on sustainable growth, climate action, and inclusive development. The financing will be directed to electricity distribution companies in the Chiriquí-Midwest region, such as Edemeth and Edechi, which are operated by Naturgy. Nadia Calviño highlighted that this initiative will improve the reliability and efficiency of the national electricity grid, enable the connection of new users, including low-income households, and promote the integration of distributed renewable energy sources. "We will close the year with record financing for Latin America and the Caribbean, with over 3 billion euros committed. Panama is an example of the success of this alliance, where we invest in high-impact projects that improve the lives of thousands of Panamanians," stated Calviño. As part of her visit to Panama, the EIB delegation will also tour the Panama Canal, one of the country's most strategic infrastructures, whose expansion project was partially financed by the EIB. Additionally, they will visit the Juan Díaz wastewater treatment plant, co-financed by the EIB, which currently serves approximately 700,000 people, improving public health and environmental protection in the metropolitan region.
