The Republic of Panama and the Japan International Cooperation Agency (JICA) have formalized a new loan agreement to ensure the continuity of Line 3 of the Panama Metro . This third financing agreement, amounting to 159,496 million Japanese yen (approximately 1,036 million balboas), reinforces the commitment to the expansion of the public transportation system in the region.
Panama Metro: Expansion and connectivity
With the presence of the Minister of Economy and Finance, Felipe Chapman, and the Resident Representative of JICA in Panama, Shohei Tada, the signing of the agreement took place at the facilities of Patios and Workshops of Line 3. Also attending were the Ambassador of Japan in Panama, Kazuyoshi Matsunaga, and the General Director of the Panama Metro, César Pinzón, who highlighted the importance of financing to maintain the pace of the works.
[post_relacionado]Metro Line 3 is designed to improve connectivity between Panama City and the province of Panama Oeste. The project, based on a high-capacity monorail system , seeks to optimize urban mobility , reduce travel times and decrease traffic congestion in one of the areas with the greatest population growth in the country.
Progress in the construction of Metro Line 3. Source: Panama Metro
Job creation and sustainability
Currently, around 4,000 workers are involved in the construction of Line 3, which represents a significant source of employment and a key contribution to the Panamanian economy. In addition, the project is aligned with the country’s sustainability goals, promoting more efficient and ecological transportation .
The Director of the Panama Metro, César Pinzón, highlighted that this infrastructure will transform urban mobility and improve the quality of life of thousands of residents. He also stated that this financing will allow the continuation of a project that will have a positive impact on the economy and social development of the country.
Japan’s commitment to Panama’s development
Cooperation between Japan and Panama has been constant over the past 60 years. JICA has participated in various infrastructure, education and health projects , strengthening the bilateral bond and contributing to the country’s growth.
The continuation of Metro Line 3 reaffirms Panama’s vision of a modern and sustainable transportation system, promoting urban development and the quality of life of its inhabitants.
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Source and photo: Panama Metro