March 22, 2023
On March 16, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Republic of Panama in Panama City to provide a Japanese ODA loan of up to 92,000 million yen for the Panama Metropolitan Area Urban Transportation Line-3 Development Project (Ⅱ).
Following on from the Panama Metropolitan Area Urban Transportation Line-3 Development Project (Phase I), which began in 2016, this project will construct an urban transportation monorail system connecting downtown Panama City and the western side of the metropolitan area.
Utilizing high-quality Japanese technology, this will be the first monorail project in Central America. As monorails have a proven track record of operating as a safe and reliable urban transit system, the construction of the Line-3 monorail is expected to improve transportation in the metropolitan area, while also reducing greenhouse gas emissions.
This project aims to contribute not only to Panama’s sustainable economic growth but also to the achievement of SDGs (Sustainable Development Goals) Goals 9 (Industry, innovation and infrastructure), 11 (Sustainable cities and communities), and 13 (Climate action).
Details for the project are provided below.
1. Terms and Amount of Loan
|Annual interest rate (%)||Repayment
|Panama Metropolitan Area Urban Transportation Line-3 Development Project(Ⅱ)||92,000||TORF -1.00%||0.01%||20||6||General untied|
2. Executing Agency
Metro de Panamá, S.A.
Address: Altos de Curundú, Avenida Ascanio Villalaz, Ciudad de Panamá
3. Planned Implementation Schedule
(1) Completion of project: October 2026 – when commercial operations begin
(2) Consulting services (including basic design work, construction supervision, etc.): May 2016 (already hired)
(3) Tendering of announcement of initial procurement package for international competitive bidding on project construction:
Release date: September 2018 (already contracted)