WEST PANAMA CITY SANITATION PROGRAMME - BURUNGA (EIB-20150672)

Countries
  • Panama
Where the impacts of the investment may be experienced.
Specific Location
West Panama
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 10, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MINISTERIO DE SALUD
The holder of the loan, grant, or other investment.
Sectors
  • Water and Sanitation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 46.00 million
Converted using 2016-03-08 exchange rate.
Project Cost (USD)
$ 369.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 337.00 million
Converted using 2016-03-08 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Mar 8, 2016


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Project Description
The proposed operation supports the West Panama Sanitation Programme. It aims at extending sanitation services beyond the Panama Metropolitan area to the neighbouring province of West Panama on the western side of the Canal. The EIB loan will finance the first component of the programme: design and construction of collectors and sewerage networks, including domestic connections, in Burunga (ArraijAAn District). The programme aims to contribute to the Panama Government's efforts to improve pollution abatement and the country's environmental sustainability. It will benefit an estimated population of 62 000 people and will avoid the discharge of 28 500 m3 per day of untreated wastewater into the environment. The EIB states that it will also indirectly have a positive economic impact due to its proximity to the metropolitan area of Panama. The project is in line with the EIB Water Sector Lending Policy and is eligible for financing under the EIB Climate Action and Environment Facility (CAEF) as it contributes to environmental sustainability through pollution abatement, to underpin sustainable growth in the region. The project will significantly reduce direct wastewater discharges into water bodies, thus contributing to improving public health and environmental conditions in the beneficiary area. The project's compliance with environmental and social principles of the EU, the EIB and the other IFIs, together with the applicable national environmental legislation and issues related to adaptation to climate change will be verified during the appraisal.
Investment Description
  • European Investment Bank (EIB)
The EIB's loan of EUR 46 million (USD 50 million) will finance part of the programme, the rest of the programme will be financed by the World Bank as the leading international financial institution, the Latin American Development Bank and the Government of Panama.
Contact Information
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