ON NOVEMBER 30 the Andean Development Corp announced that it had approved three loans worth a total of US$350m to fund rail and metro projects in Venezuela.
The suburban railway under construction between Caracas and Tuy Medio (RG 9.04 p544) is to receive the largest single allocation, with US$200m to be lent over a term of 10 years towards its total cost of US$2·15bn.
The development bank is to lend US$70m to Metro de Los Teques towards the US$673m cost of the 9·5 km route under construction to link Los Teques with Las Adjuntas on Caracas metro Line 2. Metro de Maracaibo is to receive US$80m towards a total project cost of US$384m.
