IDB Invest has provided a new US$250 million financing package for the Ferrocarril Central project in Uruguay.

The investment seeks to improve connectivity and integration of Montevideo, the capital, and interior regions of Uruguay. The financing consists of a senior line of credit through a fixed rate B bond.

The investment will be used to refinance the existing debt of the project, which was implemented under a Public Private Partnership (PPP) contract between the Ministry of Transport and Public Works of Uruguay and a special purpose vehicle Grupo Vía Central S.A.