Quito Line 1 gets further $250m from IADB

Empresa Publica Metropolitana Metro De Quito has raised another $250 million 25-year loan from the Inter-American Development Bank (IADB) to fund works on the $1.6 billion Line 1 metro project in Quito, Ecuador. The loan will be disbursed over three years and includes a seven-year grace period.

The facility complements a $200 million IDB loan in December 2012 and other DFI loans from CAF ($250 million), the EIB ($259 million) and the IBRD ($205 million).