Program for the Improvement of the Pension System of the Social Security Fund in Panama

The general objective of the program is to strengthen the financing, coverage, and adequacy of the pension system managed by the Social Security Fund (CSS) in Panama. To achieve this, the program focuses on three specific objectives: (i) strengthening the financing of the disability, old age, and death (IVM) program; (ii) expanding the coverage of the IVM; and (iii) improving the adequacy of the benefits granted for retirement.

Project Detail

Country

Panama

Project Number

PN-L1193

Approval Date

Project Status

Preparation

Project Type

Loan Operation

Sector

SOCIAL INVESTMENT

Subsector

PENSIONS & SOCIAL SECURITY

Lending Instrument

Policy-Based Loan

Lending Instrument Code

PBL

Modality

PBP (Programmatic Policy Base Loan)

Facility Type

Environmental and Social Impact Category (ESIC)

Total Cost

USD 400,000,000.00

Country Counterpart Financing

Original Amount Approved

USD 400,000,000.00