The European Investment Bank and World Bank Group signed loan agreements with a total value of more than USD 1 billion for the construction of the first metro line in Bogotá, Colombia. The total cost of the project is USD 4.3 billion.
EIB will offer a USD 480 million loan, with a first tranche of USD 56 million. It is granted by the EU bank to Empresa Metro de Bogotá with the guarantee of the Republic of Colombia represents the first instalment of a total loan of USD 480 million approved by the EIB to support the development of this project.
World Bank Group approved a USD 600 million loan for the project, of which USD 70 million is the initial support for construction works of the viaduct, audits and technical studies for this project. The World Bank plans to cover the remaining US$ 530 million in future operations.
The metro project is co-financed by the Inter-American Development Bank (IDB) and the European Investment Bank (EIB). World Bank, IDB and EIB financing in this initial phase totals USD 190 million.
The new Bogotá metro line will run on elevated track to avoid earthquake risks along 24 km through the so-called Caracas Corridor located in the south-west of the capital where public transport demand is highest. The project will include the construction of 15 stations and acquisition of 23 trains each able to carry 1,800 passengers.
The first metro line in Bogota will have a maximum capacity of 72,000 passengers per hour.