European Union and Panama Strengthen Cooperation on Sustainable Development

The European Union and Panama have reaffirmed their commitment to collaborating on strategic sectors for sustainable development, with a recent mission by the European Investment Bank (EIB) leading to in-depth technical dialogue and progress in identifying projects that contribute to energy transition, infrastructure modernization, and climate resilience. The EIB's visit, led by Jose Manuel Otero and Matteo Banti, formed part of the European Union's Global Gateway strategy to strengthen long-term partnerships promoting sustainable development and global connectivity.

Key Takeaways:

• The European Union has reaffirmed its strategic commitment to Panama through concrete initiatives aimed at promoting sustainable growth, climate resilience, and regional integration.
• The European Investment Bank (EIB) identified opportunities to accelerate the development of renewable energy, modernize electricity distribution networks, promote low-emission transport, expand access to clean drinking water, and uphold high environmental and social standards in the extraction of critical raw materials.
• The EIB expressed particular interest in advancing regional energy integration through its involvement in electricity interconnection projects between Panama, Colombia, and Costa Rica.
• The European Union and Panama will work together to translate these objectives into concrete investments that deliver lasting benefits for the population.
• The mission was part of the European Union's Global Gateway strategy, which seeks to strengthen long-term partnerships that promote sustainable development and global connectivity.
• The European Investment Bank (EIB) identified opportunities in the energy transition, sustainable mobility, water infrastructure, and the decarbonisation of strategic value chains.
• The EIB aims to accelerate the development of renewable energy, modernize electricity distribution networks, and promote low-emission transport.
• The EIB has underlined its particular interest in advancing regional energy integration through its involvement in electricity interconnection projects.
• The European Union and Panama will work together to uphold high environmental and social standards in the extraction of critical raw materials.

Statistics:

• The visiting EIB delegation consisted of Jose Manuel Otero, Head of Public Sector Operations for Mexico and Central America, and Matteo Banti, Head of Cooperation for Panama and Costa Rica.
• The mission took place from June 9 to 13, 2023.
• The European Union's Global Gateway strategy aims to promote sustainable development and global connectivity through long-term partnerships.

Sources:

• European Union External Action Service news release
• European Investment Bank (EIB) website and public statements