The European Investment Bank (EIB) will open in the first half of this year its regional office in Panama, the first in Latin America, the Ministry of Foreign Affairs (Watch) Panamanian.
A recognition of the strength and transparency of the international financial center of the capital raised Roman Escolano, EIB Vice President, in making the announcement.
“We are very proud this news as the EIB is one of the largest financial institutions in the world and to be installed in Panama demonstrates the confidence that the directors of the Bank,” said Maria Luisa Navarro Vice Minister of Look.
In addition, it is a recognition of the EU to our country and its financial platform and services, he said.
The EIB invests in energy and infrastructure projects in Panama and recently concluded negotiations with the Ministry of Finance to finance sewage treatment in the Havana neighborhood of Juan Diaz, worth 50 million dollars.
The decision of the European entity is a boost to attempts to Panama out of the gray list of the Financial Action Task Force (FATF), where he stayed from June 2014 on suspicion of money laundering in entities located in its territory. “Surely, out of the gray list of the FATF will be positive, particularly for the Panamanian financial sector, as you know, had been experiencing loss of services of correspondent banks, mainly from the United States,” he said Thursday Minister of Economy and Finance Guard Dulcidio.
“Panama has done important work in our economy and shield our country from the scourge of money laundering and include financing of terrorism. We continue to work and strengthen our institutions in this regard,” he added.
FATF technical team visited Panama in mid-January to verify the implementation of anti-money laundering measures previously agreed with the agency needed to leave the gray list condition.
Among the actions are the implementation of Law 23 of 2015, known as anti-money laundering law and the creation of the Administration for Supervision and Regulation of Non-Financial Subjects.
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