CAF approves second Quito subway loan

CAF approves second Quito subway loan

Ecuador Loans Project & Infrastructure Finance

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

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