DEVT BANKING II

closed

The Second Development Banking Project will support the efforts of the Government and of COFINA's management to strengthen COFINA and increase its efficiency; assist Panama's industrial development by financing sound investment projects; support COFINA's promotional efforts in the financial and industrial sectors by financing studies and consultant services; and serve as a vehicle for the future dialogue with the Government on industrial policy issues. The proceeds of the loan will be used to finance the estimated foreign exchange component of COFINA's subloans and equity investments for the acquisition of fixed assets and permanent working capital by productive private and public sector enterprises in the manufacturing and related subsectors such as tourism. The loan will also finance up to US$200,000 for technical assistance and staff training to strengthen COFINA's operational capability and up to US$200,000 for studies and consultant services for COFINA's promotional activities.