English - Global Environment Facility

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Mainstreaming Biodiversity Conservation Through Low-Impact Ecotourism in the
Sistema Nacional de Areas Protegidas (Sinap)
(PN-X1003)
Financial Terms and Conditions
Beneficiary: Republic of Panama Amortization Period: n/a
Grace Period: n/a
Executing Agency: National Environmental
Authority (ANAM: Autoridad Nacional del
Ambiente)
Disbursement Period: 48 months
Source Amount
IDB (Grant from the
Global Environment
Facility - GEF) US$4.0 million
Supervision and
Inspection Fee:
Other/Cofinancing US$4.248 million Interest Rate: n/a
Credit Fee: n/a*
Total US$8.248 million Currency: US$ dollars
Project at a Glance
Project Objective/Description:
To generate a model of low environmental impact ecotourism in the national protected areas system
(SINAP) that contributes to biodiversity conservation and sustainability of protected areas, in a
framework of innovation, entrepreneurial integration, and sustainable social development at the
local scale. To this end, the project will finance three components: (a) Policies and regulatory
framework for biodiversity conservation and sustainable management of ecotourism in the SINAP;
(b) Planning, operational management and monitoring of ecotourism in Protected Area (PA)s; and
(c) Strengthening of income generation potential for local stakeholders through ecotourism in
selected PAs.
Special contractual clauses:
Prior to the first disbursement: (i) signature of the agreement between ANAM and ATP (3.3);
(ii) the approval of the Project Operating Manual (POM) by the Steering Committee, in accordance
with terms previously agreed between the Borrower and the Bank (3.5).
Exceptions to Bank policies: None
Project qualifies for:
n/a*
SEQ[ ] PTI [ ] Sector [ ] Geographic[ ] Headcount [ ]
(*) The credit fee and inspection and supervision fee will be established periodically by the Board of Executive Directors as part of its
review of the Bank’s lending charges, in accordance with the applicable provision of the Bank’s policy on lending rate methodology for
ordinary capital loans. In no case will the credit fee exceed 0.75% or the inspection and supervision fee exceed, in a given six-month
period, the amount that would result form applying 1% to the loan amount divided by the number of six-month periods included in the
original disbursement period.