It was announced last week that the Panamanian government has created a $1.1 billion fund that it expects to eased the credit crisis and to boost investment as the world faces a global economic crisis.
Panama President Martin Torrijos stated that the fund will “grant Panamanians low-cost loans to buy homes and expand businesses”.
Financing of the new fund, which will come in the form of a loan, is being handled by the Inter-American Development Bank, Andean Development Corp, and National Bank of Panama. The National Bank – one of two state banks – will oversee the project. Torrijos called the loan a “preventive measure”.
The fund is a result of a three-month investigation of how the U.S. economic slowdown will affect Panama’s economy. The Panama Canal is currently the key route for trade between Asia and the eastern U.S.
Panama is still expecting significant growth in the next few years! Visit panama-land-for-sale.com to see properties and land for sale in Panama!!
Posts
No comments:
Post a Comment