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CAF provides funding to Panama for agricultural project worth $557M

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CAF provides funding to Panama for agricultural project worth $557M

Banco De Desarrollo De América Latina, known as CAF, signed an agreement with the Panamanian government to grant the Central America country a loan for its agricultural sector, El Capital Financiero reported.

Panama's agricultural ministry aims to boost competition within the sector and release credits to 15,000 farmers, with the loan from the development bank, which has a first installment worth $27.6 million.

According to the publication, the Latin American development bank will help Panama with funding for a seven-year project costing $557 million.