Metro de Bogota raises more DFI backing for Line 1 project

Empresa Metro de Bogota has signed loan agreements with the EIB and the International Bank for Reconstruction & Development (IBRD) for $480 million and $600 million respectively to part fund the $4.3 billion Bogota Metro Line 1 project. The loans complement a further $600 million facility agreed with the Inter-American Development Bank (IDB) last week.

The total project will still require around $2.7 billion to be raised by a concessionaire which will be appointed by the end of May 2019. The concession tender launched this week.