Andrés Farrugia highlights the implementation of a financial mechanism from the Caja de Ahorros de Panamá aimed at injecting liquidity to state contractors, accelerating the execution of public works, and strengthening job creation in the country
The Caja de Ahorros of Panama announced the implementation of a financial mechanism that will allow channeling up to B/.3,000 million to boost the execution of public works and strengthen economic activity in the country.
The initiative, which begins with an approximate projection of B/.600 million, has been designed to facilitate liquidity for State contractors, contributing to the acceleration of key projects and the generation of employment in different productive sectors.
This instrument is developed in coordination with the Ministry of Economy and Finance and the General Comptroller's Office of the Republic, guaranteeing an execution aligned with national priorities.
Andrés Farrugia highlights the impact of financing on Panama's economic reactivation
The general manager of the entity, Andrés Farrugia, explained that this mechanism responds to the need to strengthen the operational capacity of contractors and reduce the execution times of public works.
"This mechanism will allow us to accelerate key projects for the country, strengthening the execution of works and job creation", stated Andrés Farrugia.
The scheme contemplates a financial structure backed by banking entities of international solidity, which allows combining financing capacity, operational efficiency and agility in execution.
"We have designed a tool that combines financial solidity with speed of response, allowing us to meet the country's needs and contribute to a more efficient execution of public works", added the General Manager.
This mechanism is part of an institutional strategy aimed at consolidating the role of state banking as a facilitator of economic development, integrating financial solutions with a direct impact on key sectors.
With this initiative, the Savings Bank of Panama reinforces its role as a key player in the articulation between the financial system and the country's needs, contributing to the generation of favorable conditions for investment, project execution, and job creation.
The impact of this instrument is not only translated into greater efficiency in the execution of works, but also in the generation of opportunities, the strengthening of the productive fabric and the impulse to sustainable growth.