Ecuador receives additional $44 million loan to build Quito’s first metro line

The European Investment Bank (EIB) is to provide USD 44 million loan for the construction of Quito’s first metro line.

(Credit: www.metrodequito.gob.ec)

The Republic of Ecuador is to receive a USD 44 million loan to build Quito’s first metro line following a signed agreement with the EIB. The agreement also includes funding totalling USD 175 million to aid the economic recovery in one of the areas most damaged by the earthquake that hit Ecuador last April.

Quito’s first metro line to open in 2019

Works to construct the new metro line began in 2013 following an initial USD 259 million EIB loan. Once complete, the metro line will run from Quitumbe to El Labrador for a distance of 22.5km and have a transport capacity of more than 400,000 people per day. The latest EIB loan will finance the construction of 15 stations, a workshop and the purchase of 18 CAF trains comprising of 6 cars each. The vehicles will run at a maximum speed of 100 km/h powered from the 1500VDC catenary supply.

The country’s first metro line is scheduled to open in 2019.