LatinNews Daily - 2 November 2023

In brief: IDB approves funds for second metro line in Colombia's capital

* The Bogotá mayor’s office has announced that the Inter-American Development Bank (IDB) has approved a US$415m credit line for the construction of a second metro line in the Colombian capital. In a statement, the mayor’s office said that the IDB has approved an initial disbursement of US$50m for the construction of the subterranean line, which will run between the northern neighbourhood of Suba and the northwestern neighbourhood of Engativá. This will be in addition to an overground metro line which is currently under construction and will run between the southwestern neighbourhood of Bosa and the eastern neighbourhood of Barrios Unidos. Bogotá’s mayor, Claudia López, who will be replaced by the newly elected Carlos Fernando Galán on 1 January, said that the IDB loan, which comes on top of credit agreements struck with the Latin American Development Bank (CAF) and the European Investment Bank (EIB), “reiterates the investment confidence of multilateral banks in the development of sustainable transport for Bogotá”. Contracts for the construction of the second metro line will be awarded next year. The first line is being constructed by two Chinese companies, Xi’an Metro Company and China Harbour Engineering Company, and is scheduled to begin transporting passengers in 2028.

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