The European Investment Bank (EIB) has confirmed its support for the first line of Bogotá metro in Colombia with financing amounting to $480m.

The EU bank, which is contributing a $480m credit line for the metro project, provided the first tranche of $56m in August.

EIB vice-president Emma Navarro said: “The EU bank is pleased to contribute to the development of a major piece of infrastructure that will have a direct positive impact on the lives of millions of people, and that will transform Bogotá, making it more accessible and sustainable as a result of the project’s positive environmental impact.

“We are happy to reiterate the EIB’s determination to provide its financial resources and technical experience so that this project is a success.”

"The latest financing is part of the EIB’s efforts to promote the use of public transport to reduce pollutant emissions."

The first section of the 24km line will include a depot and 16 stations. The Bogotá metro project includes ten interchanges within the TransMilenio network.

Furthermore, it will involve the development of the associated roads with 19km of cycle paths and other improvements for environmental sustainability.

The project is expected to commence operations with 23 trains. Each train will be capable of carrying 1,800 passengers.

Navarro met with the Empresa Metro de Bogotá manager Andrés Escobar to evaluate the progress of the project.

The latest financing is part of the EIB’s efforts to promote the use of public transport to reduce pollutant emissions.

Escobar said: “Subjecting ourselves to an evaluation by a bank targeting sustainable development, such as the EIB, is a way of validating our work and ensuring that we will deliver the best possible project for the city.”