Panama Canal

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IFC is one of several financial institutions being considered by the Panama Canal Authority (ACP, a sub-national entity of the Republic of Panama) to finance the expansion of the Panama Canal (henceforth the “Canal”). The expansion will be the largest project at the Canal since its original construction. A Canal expansion will double capacity and allow more traffic. The project will create a new lane of traffic along the Canal through the construction of a new set of locks. The Canal’s entrances at the Atlantic and Pacific channels will be widened and deepened, as well as the navigational channel at Gatun Lake. One lock complex will be located on the Pacific side to the southwest of the existing Miraflores Locks. The other complex will be located to the east of the existing Gatun Locks. All of the expansion activities will be located within the existing confines of the Canal property under the control of the ACP and in areas that have been impacted by previous Canal activities. Construction for the project is slated to conclude by 2014.