Lender considers further US$300mn for Peru metro

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Tuesday, December 9, 2014

The Inter-American Development Bank (IDB) is in talks with the Peruvian government over a US$300mn loan for the country's US$5.8bn Lima metro line No.2 project.

If approved, the loan would take the total amount committed by the lender to the initiative past the US$1bn mark, the Wall Street Journal reported IDB bank president Luis Alberto Moreno as saying.

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The announcement comes after two multimillion-dollar loan packages were authorized. Last week the IDB committed to providing US$750mn in loans for the metro line and Caracas-based lender CAF approved US$150mn in financing.

Lima metro, which has already awarded studies for a third line, is Latin America's largest infrastructure project, Peruvian President Ollanta Humala has said previously.