TOURISM SECTOR LOAN

CONSTRUCTION OF THE BUILDINGS AND INSTALLATION OF ALL EQUIPMENT IS APPROXIMATELY 30% COMPLETE. FINAL CHANGES IN THE DESIGN OF THE CONVENTION CENTER WERE MADE IN RESPONSE TO RECOMMENDATIONS BY IPAT AND THE ARCHITECTURAL/ENGINEERING FIRM. GOP OBTAINED $10 MILLION ADDITIONAL FINANCING FROM THE INTERNATIONAL DEVELOPMENT BANK TO ACCOMODATE THE CHANGES. ICA-CONTINENTAL WAS CONTRACTED FOR CONSTRUCTION SERVICES ON 12/30/76. IPAT (PANAMANIAN INSTITUTE OF TOURISM) IS IN THE PROCESS OF CONTRACTING AN ADMINISTRATIVE AND MANAGEMENT CONSULTANT TO ASSIST IN THE MANAGEMENT OF THE TRAINING CENTER. ALSO A CONSULTING FIRM IS BEING CONTRACTED TO STUDY IPAT'S INSTITUTIONAL DEVELOPMENT NEEDS AND TO MAKE RECOMMENDATIONS FOR FUTURE TECHNICAL ASSISTANCE AND TRAINING. CONSTRUCTION OF THE CONVENTION CENTER HAS GENERATED SUBSTANTIAL INTEREST FOR USE OF ITS FACILITIES. AN INTERNATIONAL HOTEL IS ALSO PLANNING TO CONSTRUCT IN THE AREA. IPAT IS NOW MANAGING MANY INTERNATIONAL AND NATIONAL PROMOTION CAMPAIGNS DESIGNED TO ENCOURAGE TOURISM.