The European Investment Bank reiterated its commitment to finance the first line of Bogotá metro, a project to which the bank is contributing with a USD 480 million credit line. In August, the EU bank provided USD 56 million as the first tranche of this loan.
Following EIB’s involvement in the project, EIB Vice-President, Emma Navarro, met with the Manager of Empresa Metro de Bogotá S.A., Andrés Escobar, to analyse the project’s progress.
“Subjecting ourselves to an evaluation by a bank targeting sustainable development, such as the EIB, is a way of validating our work and ensuring that we will deliver the best possible project for the city. We are grateful not only for the EIB’s financial backing, but also for its technical support,” Andrés Escobar said.
The project consists of the first section of the 24 km first line, a depot and 16 stations, including 10 interchanges with the TransMilenio network. It also comprises the development of the associated roads with 19 km of new cycle paths, and other improvements aimed at sustainability. The project is expected to start operations with 23 trains, each able to carry 1 800 passengers.
In August, Empresa Metro de Bogotá also signed a loan agreement with World Bank Group for the USD 1 billion project. World Bank Group approved a USD 600 million loan for the project.