The Panama-David train project continues to attract interest from several countries seeking to compete for funding for President José Raúl Mulino’s main government project, which is expected to begin civil works during the first three months of 2026.

During his tour of New York, as part of his first high-level meeting as president of the United Nations Security Council, Mulino met on Monday, August 11, with executives from Mizuho Bank, one of Japan’s leading banks interested in financing several infrastructure projects in the country.

At the meeting, the president emphasized that the train is “a key element for the future of Panama’s logistics structure,” as it will provide “a system for transporting commercial cargo and passengers that will connect not only Panama but also the rest of Central America.”

Mizuho Bank CEO Shuji Matsuura stated, “The purpose of this global corporation is to explore strategic financing priorities for Panama and identify innovative, long-term solutions that support the country’s infrastructure and development agenda.”

In this way, Japan joins the interest already expressed by the United States government through its ambassador to Panama, Kevin Marino Cabrera.

In July, Cabrera met with Henry Faarup, Secretary of the Panama-David Railway, to inform them that U.S. companies are seeking to invest in the project.

Through his X account, the US ambassador described the Panama-David train as a project in line with President Donald Trump’s vision of generating opportunities for the US in the region and strengthening ties between the US and Panama.

Faarup has already reported that the United Kingdom is one of the countries that has also shown the greatest interest in financing the railway’s construction.

He explained that the British government has offered 5 billion pounds (about $6.716 billion at today’s exchange rate) in loans, of which approximately $3.5 billion could be allocated to the project.

He added that he plans to travel to the United Kingdom in September to secure a loan to begin the first phase of the project.

Faarup also mentioned that the European Investment Bank has expressed interest in participating in the financing. “All of Europe is interested in supporting us,” he stated.

The Chinese ambassador to Panama, Xu Xueyuan, has expressed her eagerness to participate in the project. “We are paying close attention to this construction. We hope that Chinese companies can participate in the bidding process on equal terms,” she stated.

The Asian giant’s diplomat in Panama emphasized that the railway will be over 400 kilometers long, making it a project to be developed by multiple companies, not just one. “When the bidding process opens, companies from all over the world will come to participate in the project, and there are Chinese companies, such as China Construction Company Corporation and others, that are qualified to participate, which is why they are closely monitoring this project,” she said.

After receiving the Panamanian leader in Seville last June, Spanish President Pedro Sánchez openly stated that Spanish companies want to invest in the Panama-David train.

Sánchez said that Spain is one of the countries with the most kilometers of railway lines built in the world, so he would be interested in participating in the project being developed by Panama.

Mulino also informed him that the bidding process for the construction of the first section of this train will be held in the first quarter of next year, and urged Spain to contribute to Panama. “The world is beginning to strengthen our geographical position,” Mulino said in the context of the international geopolitical situation.

Although there is no official figure yet, the secretary of the Panama-David Railway has announced that the total cost of the project could range between $6 billion and $8 billion, comparable to the expansion of the Panama Canal.

For now, it has been confirmed that it will be 475 km long and will have 14 stations distributed throughout the country. It will include an express route connecting the cities of Panama and David in an estimated time of three hours or less, with a maximum design speed of 100 km/h for both passenger and freight trains.

Construction will be divided into sections of between 30 and 40 km, awarded by tender to different companies.

The first stage will cover 210 km, with 60% of the work involved in preparing the railway track (subballast, ballast, sleepers, rails, and overhead lines).