Private infrastructure investments in Peru hit a milestone when the expansion of Line 1 of the Lima Metro reached financial close in August last year. GyM Ferrovías, a consortium with the local construction company Graña y Montero (GyM) and Argentina’s Ferrovías, used both banks and bonds to raise funding and showed the Peruvian government has few qualms about playing a role in the capital markets with the nation’s first RPICAO-backed project. GyM Ferrovías’ efforts to secure financing from various sources make the project the winner of the award this year for Best Transport Financing. First off, with RPICAO construction certificates from the federal government in hand, the concessionaire

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