Three loans granted to Metro de Caracas for a total US$192 million

(July 15, 1999).– As part of its policy of supporting strategic infrastructure projects in its shareholder countries, CAF has granted a total of US$192 million to Metro de Caracas through three loans which have been used to strengthen the operating capacity of this important mass transit system.

The first loan for US$59 million was granted in 1995 for construction of the first section of Line III, which covers the route Plaza Venezuela-El Valle. In 1997, a second loan was granted for US$33 million to complete this line (civil works and equipment for stations).

In 1997, another important loan was granted to Metro de Caracas for US$100 million for the Operative Investment Program (finance for systems and equipment).

In relation to construction of Line IV of Metro de Caracas, the Corporation has not received any application for finance, although there have been conversations in this respect.