Quick Facts

Where the impacts of the investment may be experienced.
  • Colombia
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Investment Amount (USD): $ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-11-03

Project Description
WHO IS OUR CLIENT Transambiental is one of the three bus operator concessionaires of Cartagenaa€™s new Integrated Mass Transport System , named Transcaribe. Transambiental is responsible for the execution of Concession number 3, whose purpose is to finance, acquire, operate and maintain up to 223 state-of-the-art natural gas powered buses. The new system, expected to transport 450,000 passengers daily, is based on a Public Private Partnership model, in which the public sector funds the immovable infrastructure (e.g. bus lanes, stations, depot and maintenance center) and the private sector is responsible for bus operations, fare collection and scrapping of the old existing bus fleet. FUNDING OBJECTIVE As part of a debt package of Colombian Peso 145 billion (approximately USD 48 million), FMO commits to provide a loan of USD 15 million. The funding will mainly be used to acquire new buses and to acquire and scrap old diesel buses currently operating in the public transport system. WHY WE FUND THIS PROJECT This is a Green and Inclusive project. The introduction of Transcaribe will help Cartagena to move from an old, polluting, uncomfortable and inefficient bus system, with 1,600 old diesel buses, towards a cleaner, more reliable and efficient public transportation system, with 660 state-of-the-art natural gas powered buses. Transcaribe will offer affordable transport to the middle class and poor, that rely the most on the public transport system.
Investment Description
Contact Information
FMO The Netherlands +31 70 314 96 96 info@fmo.nl Anna van Saksenlaan 71 2593 HW, The Hague The Netherlands FMO South Africa +27 11 507 2500 joburg-office@fmo.nl Regent Place, 2nd Floor Cradock Ave, Rosebank 2196 Johannesburg South Africa