West Panama City Sanitation Programme - Chorrera (EIB-20150865)

Countries
  • Panama
Where the impacts of the investment may be experienced.
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
Proposed
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.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan 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.
Project Cost (USD)
$ 584.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EIB website

Updated in EWS Oct 24, 2017

Disclosed by Bank Jun 6, 2017


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Project Description
The overall objective of this operation is to support the Panama Sanitation project in the Panama Oeste Province, located west of Panama City and Canal. The project will consist of the construction of a wastewater collection system - sewerage networks, pumping stations and household connections - the construction of a conveyance system and a wastewater treatment plant to provide full sanitation services to the sector of La Chorrera and other surrounding areas. The project is a successor operation to the West Panama City Sanitation Programme - Burunga. The rest of the project will be financed by the Inter-American Development Bank (IADB), the Latin American Development Bank (CAF), the Spanish Cooperation Agency (AECID), the Central American Bank for Economic Integration (CABEI) and the government of Panama. Objetives: The programme contributes to the government's efforts to reduce pollution and improve environmental sustainability. It will benefit an estimated population of about 225,000 at completion. The treatment facility will be designed to avoid the discharge of over 115,000 cubic meters per day of untreated wastewater into the environment. 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. Environmental aspects: The project will have a very high positive environmental and social impact for the population of Panama. It 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 project is a successor operation to the West Panama City Sanitation Programme - Burunga. The rest of the project will be financed by the Inter-American Development Bank (IADB), the Latin American Development Bank (CAF), the Spanish Cooperation Agency (AECID), the Central American Bank for Economic Integration (CABEI) and the government of Panama.
Contact Information
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