- Policy drafts were presented to the Cabinet for final approval by the government.
- The cabinet used its authority to enact policy changes and propose amended regulations.
- The cabinet approved the establishment of a new Centre.
- Centre seeks Cabinet approval for spending public funds.
Panama Quake Rebuild Trusts Authorized with CAF Grants
What happened
The Cabinet authorized emergency spending and waived fees to facilitate the Panama quake rebuild plan, which involves two new trusts—one public and one private. The public trust, held at Banco Nacional de Panamá, will receive initial funding from multilateral lenders, including CAF, and the state’s catastrophe insurance. Local governments and ministries can draw on this public trust, provided requests are justified under the Comptroller general’s purchasing rules.
From riotimesonline.com
Why it matters
The rebuild plan is financed through a mix of public and private capital, which is significant because Panama relies on foreign bond investors and uses the dollar. The public trust, endorsed by the Comptroller general, is set up to handle emergency public money for reconstruction projects.
The Centre sought Cabinet approval for spending public funds, and the Cabinet approved the establishment of a new Centre.
From riotimesonline.com
Who's involved
- CAFProvided disaster rebuild grants to the public trust for the Panama quake recovery
- cabinetAuthorized emergency spending and waived fees to facilitate the rebuild trusts
- Comptroller generalEndorsed the public trust and established the purchasing rules governing fund requests
Keep exploring
The entities involved
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Comptroller general
Wikimedia disambiguation page
Nothing else this week.
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cabinet
group of high ranking officials, usually representing the executive branch of government
- CAF