IDB Finances Public Transport Infrastructure in Colombian Cities
15 September 2011: The Inter-American Development Bank (IDB) has approved US$320 million in loans to Colombia for the development of public transport system in four cities, focusing on improving public transport and shortening circulation times of public vehicles, thus cutting greenhouse gas (GHG) emissions, expected to benefit 800,000 passengers daily.
Financing consists of an IDB loan of US$300 million and a concessional loan from the Clean Technology Fund (CTF) totaling US$20 million. The programme will improve the transport service conditions by shortening circulation times of public vehicles thereby reducing carbon dioxide emissions by up to 78,000 tons within a year. IDB financing will be paid out over a five-year term with a five-year grace period and at a LIBOR-based interest rate. The concessional amount granted by the Clean Technology Fund will have a grace period of ten years and a payment term of five years. [IDB Press Release]