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How much money did the US spend building the Panama Canal? The United States spent $350 million dollars to build the Panama  Canal. Panama invested $10 million of their own money on this  project. The US also made a payment to Colomâ¦bia, from which Panama  broke away from. 6 people found this useful.
Woodrow Wilson did not give Colombia 25 million dollars for the Panama Canal in 1921. John Hay, the secretary of state, offered Colombia an initial amount of $10 million plus $250,000 yearly in 1903, to borrow a strip of land where the Panama Canal is going to be built. Unfortunately, the offer was declined.