US$415 million Financing approved for Metro PPP Project in Colombia

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US$415 million Financing approved for Metro PPP Project in Colombia

The Inter-American Development Bank (IDB) has approved a conditional credit line for investment projects of US$415 million and an initial credit of US$50 million under this line to help finance the Line 2 Program of the metro system in Bogota, Colombia.

The city's second metro line will be a heavy rail system, primarily running underground, covering a distance of 15.5 km with 11 stations. The main goal of the Credit Line and the initial project approved by the IDB Board of Directors is to enhance mobility in Bogota by promoting public transportation through improved services.

The electric train technology of Line 2 is anticipated to decrease greenhouse gas emissions by 800 tons annually, significantly reducing air pollution in the city. Additionally, the new line will improve accessibility for individuals with reduced mobility, enhance safety for women by implementing measures against gender-based violence, and increase overall passenger comfort. The first credit operation will support various construction works, including tunnel construction, station development, a work yard, and the reconfiguration, adaptation, and equipping of universally accessible urban public spaces and roads along the metro route. The operation also encompasses social and property management.

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