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Posted by Maria Arias on February 5, 2018
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Chinese banks interested in opening operations in Panama

The ambassador of the Republic of China in Panama, Wei Qiang, informed that the representatives of the Bank of China Limited and the Industrial and Commercial Bank of China (ICBC) banks were in Panama to consolidate their presence in the local market.

Both financial entities are interested in establishing themselves in Panama with Chinese currencies, offshore banking operations and offering to finance for infrastructure works. Bank of China Limited has operations in Panama since 1994 and has a general license granted by the Superintendency of Banks of Panama.

“China, being the largest and most populous developing nation in the world, never loses sight of the extreme importance of its unity, solidarity, and cooperation with the other members of Celac, which is nothing less than the fundamental point of support for Chinese foreign policy “said the ambassador of the Republic of China in Panama during a press conference on the occasion of the second ministerial meeting of the China-Celac Forum (Community of Latin American and Caribbean countries).

He also reported that at the moment there is no official information to extend the railway, proposed for Panama, to other countries in the region. They say they are focus on the Panama-Chiriqui railroad, which is currently in the first stage of the feasibility study.