Panama City - The Panama Canal Authority signed a series of agreements Tuesday, securing loans totalling 2.3 billion dollars to finance the expansion of the the canal.
Canal Authority head Alberto Aleman Zubieta signed loan contracts with several development banks, including the European Investment Bank, the Inter-American Development Bank, the Bank of Japan, the International Finance Corporation and the Andean Development Corporation.
"Today we have reached a major milestone for both the canal and our country. The support of these major lenders for the largest infrastructure project in Latin America is truly encouraging and inspiring. Thank you for the trust and confidence you have demonstrated for Panama," Aleman Zubieta said.