IDB chief checks out Panama Canal expansion

The President of the Inter-American Development Bank, Luis Alberto Moreno, visited the construction site of the new locks in Panama's Colon province.

Moreno, accompanied by IDB delegates, is in Panama to participate in the annual meeting of the board of governors which will take place from March 14 to 17.

The IDB, together with the Japan Bank for International Cooperation, the European Investment Bank, the Corporación Andina de Fomento, and the International Finance Corporation, signed an agreement with the Panama Canal Authority in December 2008 for financing $2.3 billion for the waterway’s expansion.

Source: Dredging Today