The World Bank on Tuesday approved Bogota‘s proposal to work with Spanish civil engineers, Eurostudios, on plans for a new Metro line, taking the capital one step closer to construction.
The World Bank is the district’s biggest lender for their massive public transportation project that has been delayed multiple times since 2011.
It is estimated that the cost of the initial engineering studies for the Metro project could reach up to $44 million. El Tiempo reported that after the studies are completed, it is possible that the World Bank would loan up to $16 million to the district to help cover costs.
The loan is part of the bigger, Bogota Urban Services Project from the World Bank, which seeks to “improve city’s mobility by providing better access to the public transport system, and improving road safety, traffic management and transport planning,” among other things.
“This project is considered to improve mobility in the city and will be a strong driver of urban development and improved quality of life for all the citizens,” stated the World Bank in a report from El Colombiano. “The World Bank supports the specific request from the National Government and the District and seeks to provide technical assistance and financial loans during the project preparation process in order to partially finance the cost of design.”
The bank lauded their deal with Bogota saying, “The design contract of the Metro will be one of the most valuable consulting contracts that the institution has ever been involved in.”
President Juan Manuel Santos originally set the construction deadline for Bogota’s Metro system for 2012, however, the project was suspended in May, 2011 due to delays in “technical discussion” between the district and the national government according to the World Bank.
“Considering the complexity of the project and trying to meet the requests of the district and reflect the changes made from the original study and contract, this review has taken time,” World Bank explained.
BACKROUND: Light Rail for Bogota given green light
- Banco Mundial dio via libre al proceso del metro pesado en Bogota (elColombiano)
- El organismo daria recursos que ascienden a los 30.00 millones de pesos, en calidad de prestamo (eltiempo)
- Banco Mundial da via libre proceso del metro pesado de Bogota (wradio)
- Bogota Urban Services Project (The World Bank)