CAF will reach 35% green financing in 2024
November 19, 2024
CAF has funded the 13.7-kilometer Line 1 of the Panama Metro, with 12 stations and 19 three-car trains
June 05, 2014
Panamanians welcomed the commissioning of Line 1 of the Panama Metro, the first in Central America, 13.7 kilometers in length, of which 7.5 km are underground, 4.9 km above ground and 1.5 km in trenches. On its first day of regular operation, on Monday, April 5, 180,000 users used the trains.
The project took 38 months to complete and a few months of trial runs and rehearsal trips with nearly 12,000 users. It features a high-tech, fast, efficient and safe system with the ability to mobilize 30,000 passengers in less than an hour on a 23-minute ride.
“This transport system is a major leap in improving the quality of life of Panama City residents, for which CAF—development bank of Latin America—has disbursed USD 600 million, i.e. 33% of the total project, and the main source of multilateral funding,” said Susana Pinilla, CAF Director-Representative in Panama during the opening ceremony.
Pinilla added that these infrastructure projects have proven positive effects for underground commuters and vehicle users, as it reduces traffic congestion and road deterioration while curbing pollution. “The Lima Metro, which CAF has also funded, is an example,” he concluded.
CAF will continue to support the construction of the Panama Metro, through non-refundable technical cooperation in the amount of USD 1 million for line 2 studies, and for the overall construction of lines 2 and 3.
November 19, 2024
November 19, 2024
November 19, 2024