Bogota Transmilenio

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IFC’s proposed investment is a US$ 120 million loan to Bogota Distrito Capital (the “client” or the “City”) to finance the fourth phase of the TRANSMILENIO system’s bus rapid transit (BRT) network expansion, specifically the first section of the Caracas Sur Busway (“the project”). The project cost is estimated at US$ 128 million (equivalent to COP$ 400,000 million). The Caracas Sur Busway has been identified as one of the priorities in the Transportation Master Plan of Bogota, consisting of 7.5 km from Molinos to Yomasa through low/middle income neighborhoods and four new stations. According to the City’s estimate, the whole project will benefit approximately 1.5 million habitants from the neighborhoods of Ciudad Bolívar, Rafael Uribe, Tunjuelito and Usme. The first section of the Caracas Sur Busway will run 3.5 km from Molinos Station to Portal Usme and includes the remodeling of the Molinos Station and the construction of the Danubio Station. The buses will operate on exclusive central lanes at a commercial speed of 25 km/hour with an expected load of 14,000 passengers/hour/direction. The Urban Development Institute (“IDU”, a governmental organization which is responsible for infrastructure projects for Bogota) is responsible for the project’s design and construction, under the supervision of third-party companies (Interventorías) as required by national regulations. The project design and feasibility studies were concluded by external consultants in March 2018. A consortium will be commissioned to conduct the construction activities according to the Colombian legislation and construction is expected to begin in2020. TRANSMILENIO S.A. oversees the design, planning and monitoring of the BRT system, while managing the other entities involved in the system’s operation and maintenance (private operators operate and maintain the buses, and perform ticketing and fare collection). TRANSMILENIO S.A. will receive the project (Molinos Station to Portal Usme) from IDU at the end of construction, which is expected to be concluded by the end of 2022.