A number of local banks provide trade financing. Additionally, the Latin American Export Bank (BLADEX) provides trade financing through the local banking system. Because Panama is an international banking center, there are a number of financing options for Panamanian exporters and importers.

TYPES OF AVAILABLE EXPORT FINANCING AND INSURANCE
The Overseas Private Investment Corporation (OPIC), the U.S. Export-Import Bank (EXIM), the International Finance Corporation (IFC) of the World Bank, and the Inter-American Development Bank (IDB) has projects in Panama. A new OPIC agreement was signed with Panama on June 1, 2000 and subsequently confirmed by the Panamanian Legislative Assembly. Although there was a previous agreement dating to 1961, OPIC has been relatively inactive in Panama because of restrictive conditions in the enabling legislation for the original agreement. The new accord eliminates these problems and should open the way for considerably greater OPIC activity in Panama. Currently there are no projects in Panama large enough to require multi-institutional "bundling" arrangements. The Commodity Credit Corporation's (CCC) GSM Credit Guarantee program in Panama for fiscal year 1999 totaled $44.5 million for exports of U.S. feed grains, protein meals and vegetable oil. Credit from any bank in Panama approved by CCC will be guaranteed. Significant lines of commodity credit guarantees were still available at the time of this writing.

AVAILABILITY OF PROJECT FINANCING
The Exim Bank has participated in the financing of a number of Government purchases. It is 52 of 74 currently providing financing in excess of $100 million in insurance and guarantees (short, medium and long-term) in a number of sectors. The Inter-American Development Bank has financed several studies and projects, including a Nathan Associates study for the Panamanian Government of development strategies for the U.S. military facilities that reverted to Panama under the Panama Canal Treaties. The World Bank (IBRD) has a number of small social-sector oriented projects, and recently co financed with IDB and the Government of Panama a $406 million road construction and rehabilitation project. Panama has held discussions with IBRD about membership in the World Bank's Multilateral Investment Guarantee Agency, but has not yet applied to join. The Moscoso government has pursued financing from International Financial Institutions for a number of infrastructure and social sector investment pro U.S. citizens may enter Panama with a passport or a certified copy of a U.S. birth certificate and an official picture I.D., (e.g. driver's license) and a Tourist Card purchased for $ 5.00 from an airline serving Panama. The Tourist Card is valid for 30 days and may be extended for two more 30-day periods. The following are three types of Visas available to businesspersons wishing to spend extended periods of time in Panama:

1. Inversionista (Investor): A minimum of $ 100,000 must be invested and $ 600 must be deposited in advance ($ 500 with the Ministry of Government and Justice and $ 100 with the Ministry of Economy and Finance).
2. Visa de Visitante Temporal (Temporary Visitor's Visa): For executives or technicians working with a company in Panama for a limited time. The Visa is valid for one year and is renewable.
3. Temporal Especial (Working Permit): For professional or skilled personnel transferred from an overseas office to work in Panama temporarily. The applicant must prove his earnings will come from outside of Panama. The Visa is valid from three to six months.
Further information can be obtained from the Consular Section of the U.S. Embassy in Panama, Unit 0945, APO AA 34002, Tel: (507) 207-7332, Fax: (507) 225-1495.