July 20, 2018 |
CAF said it has approved a $152m loan to help the Quito city government pay for the construction of the first line of a subway system in the Ecuadorean capital.
CAF previously granted $250m in financing for the subway in 2012. CAF credit will cover 20% of the project costs and 22.7% of foreign financing for the $2bn project, the development bank said in a statement.
The city-owned Metro de Quito has turned to multilateral lenders to cover most of the construction costs. The IDB endorsed a 25-y
Latin American development bank offers another $152m in financing to go along with the $250m it granted in 2012