Colombia Public Transport Gets $105M From IDB

Law360, New York (February 23, 2012, 4:27 PM EST) -- Public transportation in Colombia got a $105 million lift on Thursday thanks to a loan from the Inter-American Development Bank for a program to modernize municipal bus systems in the city of Cali.

The IDB said the funding would go to the city's transport company, Metro Cali, to expand a program based on using buses in dedicated and preferential lanes. The bank provided the initial financing for the program with a $200 million loan in 2005.

The improvements funded by the loan “will help reduce travel...
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