<P> The ACP's revenue projections are based on questionable assumptions about increased canal usage and shippers' willingness to pay higher tolls instead of seeking competing routes . In a bid to attract new business as well as keeping the current customers, the ACP is looking to implement financial incentives in their toll programme, including a loyalty scheme, which are expected to combat the problems raised by increased fees . With the cash flow generated by the expanded canal, investment costs are expected to be recovered in less than 10 years, and financing could be repaid in approximately eight . </P> <P> The $2.3 billion financing package for the canal expansion, signed in December 2008 in the midst of the global financial crisis, includes loans from the following government - owned financial institutions: </P> <Ul> <Li> Japan Bank for International Cooperation (JBIC)--US $800 million </Li> <Li> European Investment Bank (EIB)--US $500 million </Li> <Li> Inter-American Development Bank (IDB)--US $400 million </Li> <Li> Corporación Andina de Fomento (CAF)--US $300 million </Li> <Li> International Finance Corporation (IFC)--US $300 million </Li> </Ul> <Li> Japan Bank for International Cooperation (JBIC)--US $800 million </Li>

Who paid for the expansion of the panama canal