Finance for works of Metro de Caracas

To contribute to completion of the civil works of Line 3 of Metro de Caracas (Plaza Venezuela-El Valle), a US$30 million loan was granted to the Republic of Venezuela.

The new agreement was signed today by the Director General of the Ministry of finance, Wilmer Pérez; the president of CA Metro de Caracas, José González Lander; and CAF Vice President Luis Enrique Berrizbeitia, who said this was the third loan approved by CAF for Metro de Caracas to develop the most important passenger transport service in the country. In total, almost US$190 million has been granted for this project.

The strategic objectives of CAF – international financial institution formed by ten countries of Latin America and the Caribbean – include infrastructure development, especially roads and transport, energy and telecommunications, as a contribution to sustainable development and regional integration, with emphasis on the social welfare of the population.

This loan – for finalization of civil works, acquisition of supplementary equipment and control systems for Line 3 – joins two previous loans for Metro of Caracas. The first was in 1995 for US$59 million for acquisition of 28 wagons for the same line which transports 15 million passengers a year. In 1996, CAF approved a second loan for US$100 millionfor overhaul of Line 1 (Catia-Petare) and Line 2 (El Silencio-Caricuao), the agreement for this operation has not yet been signed.