May 1, 2018 |
IDB has approved a 25-year $250m loan for Empresa Publica Metropolitana Metro de Quito to build the Quito Metro, the multilateral said in a statement.
Ecuador's state-run company is currently carrying out construction for Quito's first metro line.
The multilateral's loan will be disbursed over a three-year period and includes a seven-year grace period based over Libor.
IDB had approved a $200m loan for the project back in December 2012 and phase one of the project ended in 2015. The first phase
DC-based development bank provides 25-year $250m loan to Ecuador's state-backed subway builder