Support For Panama's Transport and Logistics Sector Reform Program II (IADB-PN-L1119)

Countries
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • Inter-American Development Bank (IADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Completed
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
May 11, 2016
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.
Sectors
  • Transport
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)
$ 200.00 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)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IADB website

Updated in EWS Jun 22, 2017

Disclosed by Bank Jan 6, 2016


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Project Description
The objective of the program is to help improve Panama's logistics performance by reducing regulatory and institutional restrictions that limit the country's performance, primarily in the following areas: (i) value-added logistics services; (ii) logistics that support the agriculture sector; and (iii) logistics that support regional trade. The program's specific objectives are to: (i) strengthen the legal and regulatory framework; (ii) consolidate the institutional framework for transport and logistics; and (iii) strengthen the multisector planning and trade facilitation system, which will help to improve investment planning in the transport and logistics sector, expand the surface area devoted to logistics in use, reduce customs clearance time for freight, and provide human resources for the logistics area. This operation is the second loan in a series of three consecutive single-tranche operations, technically related to one another but independently financed as programmatic policy-based loans.
Investment Description
  • Inter-American Development Bank (IADB)
The program is structured under the programmatic policy-based loan modality, and is comprised of three separate but technically related operations. This second operation will be for up to US$200 million, with a single disbursement scheduled for 2016. The public system’s gross financing needs for the period 2015-2019 are estimated at US$12 billion,54 or US$2.4 billion per year. This operation is therefore equivalent to 8.3% of needs in 2016. The definition and amount of the third operation will be based on the country’s financing needs and the programming exercise with the Bank.
Contact Information
ACCOUNTABILITY MECHANISM OF IADB The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).