PANAMA CITY (AP) - Panama is set to receive US$2.3 billion in loana to expand the Panama Canal, nearly half the money it needs to complete the seven-year project, the canal's administrator said Tuesday.
A group of five multinational lenders are offering 20-year loans at a 5.4 percent annual interest rate - demonstrating the world's confidence in Panama even as financial uncertainty wracks the globe, President Martin Torrijos said.
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