A press release from the Ministry of Economy and Finance reads:
The National Economic Council (CENA) has approved a loan agreement for up to B/.100.000.000.00 million ($100 million), between the Ministry of Economy and Finance (MEF) and the International Construction Bank (BIRF), aimed at improving fiscal management and efficiency in public spending.
The information was provided by Deputy Economy Minister, Omar Castillo, who explained that the contract is intended to support the Government's Strategic Plan as appropriate to the development and strengthening of its capacity for fiscal management, enhance transparency and efficiency in public spending, and maintain social programs.
The CENA ratified a request for additional credit of B/.4.550.000-00 million ($ 4.55 million) for the Transit and Land Transport Authority so that it can incorporate into the 2011 operating budget, surplus funds from the revenues from October, November and December this year, from items of income from and Collision and Traffic fines deposited in the Banco Nacional de Panama to finance the payment of subsidies in the price of diesel, and public transport in the districts of Panama and San Miguelito.
The CENA also authorized, the sum of B/.857, 500.00 ($ 857 000500), for the Savings Bank to sign a contract with the Business Park 2412, to perform the sale contract of the premises No. 2 in mall 2412 "Plaza America", located in the village of Tocumen, in the capital city.
Source: CentralAmericaData.COM
More on this topic
October 2010
The loan from the Inter-American Development Bank (IDB) will provide more efficiency and transparency in public expenditure.
Nicaragua will improve the efficiency and transparency of public expenditure and modernize the process and management systems of state finances with the help of a loan of U.S. $ 10 million from the Inter-American Development Bank (IDB).
March 2011
The World Bank will provide a loan in order to improve efficiency in Panama´s public sector.
The project aligns with Panama´s Government in the search for more efficient spending. The loan will result in more transparent daily operations based on performance and subject to accountability.
November 2008
The IDB will provide an $8.5 million loan for a project that seeks to increase efficiency and promote transparency in the Ministry of Finance.
The program will focus on improving the internal process of the Ministry and to seek responsibility for government spending.
The objective of the IDB is to help the ministry become an more modern and effective institution, the bank said in a release.
January 2012
The National Economic Council (CENA) has approved $35.8 million to subsidize the electricity tariff.
A press release from the Ministry of Economy and Finance of Panama reads:
The National Economic Council (CENA) has approved a draft resolution by which the Cabinet authorizes the Ministry of Economy and Finance, as trustee, to transfer to the Electric Transmission Company S.
español
1895
