EU to Finance Panama Canal Expansion

Monday, October 22 2007 @ 11:54 AM EDT

Contributed by: Don Winner

SeaNews.info - Panama will bank $54m from Europe over the next six years to aid its canal expansion project. A new accord between the EU and the Panama government will guarantee the funds between 2007 and 2013. According to TradeWinds, news of the agreement came as the EU presented a new programme of cooperation between the union and Central America. The EU cash will join a swelling pot of $428m put forward by European banks to help fund the high-profile canal expansion.

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