Panama and the European Union (EU) have agreed to extend their cooperation on climate policies, through a new Action Plan within the Euroclima Program in the country, with 1.7 million euros investment.

The new Plan establishes the following priority actions: enhancing climate finance, reducing climate vulnerabilities in the watersheds of the Panama Canal, and contributing to the country’s sustainable energy transition, strengthening the regulation, planning and integration of clean and renewable energy sources.

The Plan will be implemented in the 2024-2026 period by four of the eight agencies – AECID, Expertise France, FIAPP and GIZ – of bilateral cooperation and the United Nations that form the implementing consortium of the Euroclima Program. Euroclima is the EU’s flagship program for green action in the 33 countries of Latin America and the Caribbean, contributing to the implementation of the Global Gateway Investment Agenda in the region.