Panama secures MIGA-backed loan for metro project

Clifford Chance LLP, through its Washington, DC office, and Panama’s Arias, Fábrega & Fábrega have advised Citibank and Bank of Tokyo-Mitsubishi UFJ in a US$250 million loan to finance the design and construction of the Panama City metro, which is guaranteed by the Multilateral Investment Guarantee Agency (MIGA), the World Bank’s political risk insurance arm.

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