(Adds detail from statement)
April 27 (Reuters) - The World Bank has approved a $150
million loan to support sustainable growth and climate
resilience in Panama, the lender said in a statement on
Thursday.
The Development Policy Loan (DPL) represents the first of
two operations in the Central American country, it added, which
are designed to support the energy transition,
socially-inclusive growth and sustain capital for resilient
growth.
Policy reforms implemented under the program should
generate results by 2025, the lender said, adding that this
should improve access to energy and internet in remote regions
and help control deforestation of the country's mangroves.
The project is also expected to help Panama decarbonize
its land transportation, protect its ocean, conserve forests and
implement more energy efficient policies, it said.
"This financial operation will enhance Panama's efforts
in establishing the policy foundations to foster the country's
sustainable economic growth, low emissions and resilience to
climate change," Panama's economy and finance minister, Hector
Alexander, said in the statement.
(Reporting by Sarah Morland; Editing by Anthony Esposito and
Brendan O'Boyle)
