PANAMA CANAL EXPANSION GETS BOOST FROM IFC
November 1st, 2008
BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC) of the World Bank making a very tangible contribution to the growth in world trade at a time of global recession by lending US$300 million to help expand the Panama Canal. This 20-year financing will support a US$5.25 billion project to double the canal's capacity to more than 600 million Panama Canal tons, allowing it to handle large post-Panamax container ships that have become the new industry standard. The expansion includes construction of new locks with water-saving basins and improvements to ...
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