PROJECT

Projects

Environmental & Social Review Summary

Project Number

50446

Company Name

BOGOTA DISTRITO CAPITAL

Date ESRS Disclosed

Nov 10, 2025

Country

Colombia

Region

Latin America and the Caribbean

Last Updated Date

Nov 12, 2025

Environmental Category

A - Significant

Status

Active

Previous Events

Approved : Jul 17, 2025
Signed : Oct 27, 2025
Invested : Nov 5, 2025

Sector

Municipal Finance - Multiple Sectors [Project only]

Industry

other

Department

Regional Industry INF LAC & EUR

Project Description

The proposed investment involves IFC financing of up to US$125 million to the Municipality of Bogotá through subscription as an anchor investor to an up to US$600 million offshore peso-linked green bond. This bond will be the first offshore green bond issued by a capital city in Latin America and the Caribbean (LAC) and by a municipality in Colombia. IFC proceeds will finance the Municipality of Bogota’s obligations under the Linea 2 del Metro de Bogota (in English, Bogota Metro Line 2 - BML2) being developed by the Bogotá Metro Company (EMB). EMB, fully owned, directly or indirectly, by the Municipality of Bogotá, is the entity responsible for the development and operation of the city’s metro system. Separately, BML2 will receive direct financing from other international and local financial institutions, including the IBRD (see https://projects.worldbank.org/en/projects-operations/project-detail/P179822).
EMB is expected to select and award a concession to a private party (“the Concessionaire”) by the end of 2025 to perform the civil works, provide rolling stock, and operation and maintenance. Construction is expected between 2027 and 2032. The BML2 includes a 15.5 km metro line (94% underground) with 11 stations and a 1 km elevated section, including a Patio-Taller (railyards-workshop) over a 22 hectares area. The alignment runs below the densely urbanized boroughs of Chapinero, Barrios Unidos, Suba, and Engativa, bordering the Juan Amarillo wetlands and heading to Calle 72. When operational, peak hour ridership is estimated at 46.500 passengers per hour per direction (pphpd) in the first year, increasing to 49,000 pphpd by 2042. The BML2 aims to reduce traffic congestion, lower greenhouse gas emissions, and improve connectivity and access to jobs and services for underserved populations. The project is expected to benefit nearly 2.5 million people.

Overview of IFC's Scope of Review

IFC’s review of this proposed investment consisted of appraising environmental, social, health and safety (E&S) information submitted by the EMB, including BML2’s Feasibility Study (2022), E&S Impact Assessment (ESIA), Stakeholder Engagement Plan (SEP), and the Resettlement Action Plan (RAP), disclosed herewith, as well as other publicly available information. IFC coordinated the due diligence with the IBRD and reviewed its E&S Review Summary and E&S Commitment Plan for the project (see https://projects.worldbank.org/en/projects-operations/project-detail/P179822).
The appraisal included discussions with EMB’s E&S staff, a visit to the proposed alignment and meetings with community representatives of two Neighborhood Councils (Junta de Accion Vecinal) in February 2025. A visit to validate Broad Community Support (BCS) for the project was conducted on May 19-20, 2025 and included interviews with representatives of five out of eight Zonal Committees, representatives from a commercial area, and government agencies in charge of gender aspects and engagement with vulnerable groups (e.g. peoples with disabilities).

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan

Client Documentation

File Name Actions
Environmental and Social Review Summary_V1.pdf
20240219 BML2 Plan de Reasentamiento Involuntario.pdf
20240401 BML2 Stakeholder Engagement Plan.pdf
20230727 ESIA BML2 Analisis de Alternativas.pdf
20230727 BML2 ESIA Executive Summary_ENG.pdf
20230727 BML2 ESIA Resumen Ejecutivo.pdf