Panama: Chinese Won’t Fund Nicaragua Canal


Jorge Luis Quijano, Administrator of the Panama Canal Authority has said that Chinese state-companies have shown no interest in funding the US$50bn Nicaragua Canal project, which is expected to be completed by 2020.

In a previous article published by PTI, concerns were raised by the US Embassy regarding the lack of information regarding the Nicaragua Canal scheme, as well as the lack of private investment proposed for the initiative.

As reported by Inside Costa Rica, Mr Quijano was quoted as saying: “I just came from China and builders told me that no state company is interested in financing the project.”

The developer behind the project, HKND, has recently turned to the EU for the required funding, with tenders expected to be launched in September, 2015.

Environmental concerns have also been raised, with recent claims that the Nicaragua Canal dredging could not only destroy a healthy source of water for the Nicaraguan people, but also kill fish and plant life.

In other news, China has recently won a 40-year concession to operate Gwadar Port.

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