100 projects stalled to finance fourth bridge

The Ministry of Economy and Finance has authorized an additional $40 million dollars for the construction of a fourth bridge over the Panama Canal.

The $40 million is in addition the $100 million the National Highway Company (ENA) has requested for the project that has already been approved.

The additional money will come from over 100 other projects throughout Panama, which will all be delayed once the transfer of funds are approved. The transfer still needs approval from the National Assembly’s Budget Committee.

The new bridge is estimated at a cost of $1.2 billion, and for this reason, will a toll bridge, in an effort to help recover the costs.