The Inter-American Development Bank (IDB) has approved a loan of US$ 165 million to expand Bogota's El Dorado International Airport.
The funding was given to airport operator Sociedad Concesionaria Operadora Aeroportuaria Internacional (OPAIN), which has a 20-year concession to operate the airport.
The upgrade project is due to be completed in 2014 and would see the construction of a new terminal, control tower and fire station at the airport.
Additional infrastructure for international and domestic cargo is also planned under the project, together with a new administrative building for Colombia's civil aviation agency and an expansion of the area for parking aircraft.
The project will involve capital investments from OPAIN's shareholders and additional financing from other multilateral and foreign lenders.
OPAIN's shareholders include Colombian engineering and construction companies Odinsa, CSS Construcciones, Construcciones El Condor, Grupo Marval and Termotecnica Conindustrial, as well as Swiss airport specialist Flughafen Zürich.