MCDF Grant Promotes Enhanced Intermodal Connectivity in Colombia

A USD2.62 million grant to support the preparation of a project to promote enhanced intermodal connectivity in Bogotá, Colombia needed to accelerate the country’s transport and trade growth was approved by the Multilateral Cooperation Center for Development Finance (MCDF) Governing Committee during its meeting in Beijing on 22 October. The project will be implemented by CAF – the Development Bank of Latin America and the Caribbean.

The MCDF grant will fund a feasibility study for the Bogotá Multimodal Integration Terminals Project. The project is focused on structuring Modal Integration Complexes (CIMs) in the Bogotá-Cundinamarca metropolitan region that will support the expansion, modernization, and new development of intermunicipal bus terminals and their integration with existing mass transit systems.

This integration will help accommodate the rising volume of passengers and cargo transported by Bogotá’s bus system and facilitate efficient connectivity with other transport networks linking the country’s heartland with border crossings and international gateways, including roads, railways, ports, and airports. It will also reduce road congestion, carbon emissions, and environmental pollution.

The MCDF grant-supported feasibility study will cover the project’s technical, legal, financial, land, environmental, social, operations, and corporate aspects. The findings will help ensure the project meets sustainability standards required for financing by CAF and could be cofinanced by Colombia’s national development Bank, Financiera de Desarrollo Nacional (FDN), an MCDF New Partner.

The MCDF grant will be managed directly by CAF, in coordination with Bogotá’s Mobility Secretariat and FDN through a formal technical assistance agreement, and is expected to cover 68% of the total project preparation costs. The remaining 32% will be cofinanced by the Bogotá Mobility Secretariat.