Garrigues Colombia advised Financiera de Desarrollo Nacional (“FDN”) as structuring agent and Empresa Metro de Bogotá S.A. (“EMB”) in the negotiation of credit agreements with multilateral organizations in order to obtain financial resources for the development of the first line of the Bogota Sustainable Subway.
Metro de Bogotá received a USD 70 million loan from the Inter-American Development Bank, a USD 70 million loan from the International Bank for Reconstruction and Development and a USD58 million loan from the European Investment Bank.
The first disbursement amount by Inter-American Development Bank and World Bank will be USD$70 million per each multilateral and USD$56 million by European Investment Bank.
The project envisions a 23.9 km of an elevated line, which will cover the areas that have the biggest demand for transport services in Bogotá city. The start-up date for the construction is estimated for 2020 and its completion date is estimated for 2024.