Quito Metro snares fresh debt

Quito Metro snares fresh debt

Project & Infrastructure Finance Loans Debt Ecuador

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 ph

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