Japan to Provide Loan for Monorail Construction in Panama City to Alleviate Traffic Congestion and Improve Quality of Life
February 18, 2025
Panama City, Panama – The Japan International Cooperation Agency (JICA) and the Government of the Republic of Panama have signed a loan agreement to provide a concessional yen loan of up to 2.5 billion Japanese yen (approximately US$23 million) for the construction of a monorail system in Panama City.
The monorail, which will run for approximately 24 kilometers, will connect the city’s Tocumen International Airport with the Chorrera district. It is expected to significantly alleviate traffic congestion in the capital city, which is a major issue for residents and businesses.
The project will utilize Japanese technology and expertise, which is renowned for its safety, efficiency, and reliability. The monorail system will be a modern and sustainable form of transportation that will contribute to the improvement of the quality of life in Panama City.
The loan agreement was signed by JICA Chief Representative in Panama Hiroyuki Sakamoto and Panama’s Minister of Economy and Finance Héctor Alexander.
“This project is a testament to the strong partnership between Japan and Panama and our commitment to supporting Panama’s sustainable development,” said Mr. Sakamoto. “We are confident that this monorail system will make a significant contribution to the economic and social development of Panama City.”
Minister Alexander expressed his gratitude to the Japanese government for its support. “This project will not only improve our transportation infrastructure but also contribute to the economic revitalization of our city,” he said.
The construction of the monorail is expected to begin in 2026 and be completed by 2029. The project is part of Panama’s broader efforts to modernize its infrastructure and improve the quality of life for its citizens.
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