The French government's cooperation agency AfD has offered Colombian city Medellín a US$250mn credit to finance projects related to the city's integral mass transport system, Metroplús, city public works secretary Sebastián Álvarez told BNamericas.
The loan will finance the construction of a trolley system and two new cable car systems, one of which will be located in La Sierra district.
Local authorities are currently waiting for the finance ministry to approve the loan, which was offered under very favorable conditions, Álvarez said, adding that the ministry is expected to approve the deal by month-end.
Once the loan is approved, the city's state-owned subway firm Metro de Medellín will launch tenders to build the three projects, Álvarez said. This is likely to take place in April or May.
The Metroplús system includes a bus rapid transit (BRT) line, which is expected to begin a trial phase in July. Local bus owners were initially expected to run the line under a public-private partnership (PPP); however, Metro later took control of the project after failing to reach an agreement with bus operators.