LOVILL advised Bank of China Limited (Panama Branch) and ICBC Peru Bank S.A. on the legal structuring and disbursement of both local and international financing for the Bogotá Metro Project. This transaction involved a dual-currency structure, totaling COP 1.2 billion and USD 230 million. The financing supports the development of Colombia’s most ambitious infrastructure initiative to date: the First Line of the Bogotá Metro.
LOVILL’s Role
Our team, led by Elizabeth Heurtematte and Alejandro Fung Mangravita, provided legal counsel on all Panamanian aspects of the financing. This included documentation, regulatory compliance, and the coordination of cross-border elements between involved jurisdictions. We are proud to support strategic projects that contribute to the region’s connectivity.
About the Bogotá Metro Project
The First Line of the Bogotá Metro is a transformative urban mobility project that will significantly improve public transportation in Colombia’s capital. Once completed, the metro will span 23.9 kilometers and include 16 stations. It is designed to transport up to 72,000 passengers per hour in each direction, ultimately benefiting over one million users every day.
Beyond improving daily commutes, the metro is also expected to drive urban revitalization. Additionally, it will contribute to the reduction of greenhouse gas emissions, supporting Bogotá’s environmental goals. As one of the most important public infrastructure efforts in the country, the project has drawn interest from multiple international stakeholders.
This financing marks a pivotal step toward making the Bogotá Metro a reality. The involvement of international banks and the dual-currency structure highlight the level of collaboration and legal precision required to support a project of this scale.
