The Andean Development Corporation has approved a $50 million loan for the modernization of Bogota’s El Dorado airport.
The money will be used for the modernization, expansion, administration, operation, maintenance and commercial use of Bogota’s international airport, the development bank CAF announced Tuesday.
“We are very happy to be able to finance a priority project for Bogota and the country taking in to account the present airport in the capital has been in existence for over 50 years and in 2010 registered third highest number of passengers of Latin American airports,” said Victor Traverso, CAF’s director and representative in Colombia.
In 2014, Bogota hopes to have an entirely renovated airport measuring an additional 1.6 million square feet. The building of a second airport for the city of 8 million is being investigated after airport authorities said that even the expansion may not be enough to cover the growth in air travel.