CAF warns about risk of concentrating investments in Panama canal zone

The Latin America Development Bank (CAF) held a conference in Panama City on 20 October 2016 to celebrate the achievements of the Centro de Competitividad de la Región Occidental (Cecomro), a foundation dedicated to fostering public-private investments in the western provinces of Chiriqui, Bocas del Toro and Ngäble-Bugle. The CAF raised concerns over the concentration of investments around the Panama Canal at the expense of other areas (La Estrella). CAF Representative for Panama Susana Pinilla warned the concentration of investments could bring protests and anger and disrupt social peace (La Estrella). The area around the Canal, including the capital and the Caribbean city of Colón, contributes 80 percent of Panama's GDP (Telemetro). According to Cecomro President Felipe Ariel Rodríguez, the foundation hope to capture US$400 million dollars in the next five years, especially in both agricultural and logistical sectors (Telemetro).