[China Co-Financing Fund] IDB approves 50 million USD loan from CHC for Lima Metro Line 2 and Line 4 PPP

On 3 December 2014, the Inter-American Development Bank (IDB) approved loan financing for the Lima Metro Line 2 and Line 4 PPP, which would include 400 million USD from the IDB's ordinary capital (Loan 3376A/OC-PE), and 50 million USD from the People's Bank of China via the China Co-Financing Fund for Latin America and the Caribbean (CHC) (Loan 3374/CH-PE). However, the IDB lists this project as cancelled, and it does not appear a loan contract was signed. The loan financing would be provided to a legal entity established in the United States for the implementation of a greenfield metro line in Lima, Peru. The project was projected was projected to take 5 years to complete with a tunnel of 27 kilometers that will run through Lima from east to west, close to the Pacific Ocean. Additionally, there would be a tram of 8 kilometers that will pass through the international airport. Construction on the metro began on 26 May 2015 in the eastern districts of the city. Peru Public Transport Infrastructure Investment Regulatory Agency (OSITRAN) signed a project supervision contract in March 2015 with an international consortium of firms, including Peruvian, Chinese and Korean engineering companies, to form an independent supervision agency for the project.

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