CAF approves financing of US$500 million to expand EFE's railway network

Statement from the State Railway Company

This is an automated translation of the press release issued in Spanish

The Board of Directors of CAF - development bank of Latin America and the Caribbean - approved a loan of up to US$ 500 million in favor of the Empresa de Los Ferrocarriles del Estado ( EFE ), to help finance the expansion and modernization of the railway network From Chile.

The investment plan includes improving railway infrastructure and promoting connectivity and regional economic development. The project is expected to benefit millions of passengers annually, favoring the dynamism of cargo transportation and contributing to the country's environmental commitments.

“For EFE it is a tremendous pride and a tremendous opportunity to continue strengthening and developing the various passenger and cargo projects that we have in our portfolio. Without a doubt, this will be a boost to improve the connectivity of the communities and advance our premise of bringing Chile closer to its best future,” highlighted José Solorza, General Manager of EFE Trenes de Chile.

Meanwhile, Sergio Díaz-Granados, executive president of CAF, highlighted that “this investment in Chile's railway network will not only improve the country's mobility and logistics, but will also boost its sustainable development and global competitiveness. "It is a clear example of how quality infrastructure, in this case in favor of a priority mode of transportation for the country, can transform people's lives and the future of a nation."

The main projects of EFE's investment plan include the new Santiago – Melipilla and Santiago – Batuco passenger train lines, which generate relevant social, environmental and real estate capital gains benefits.

These projects address the need to have a more efficient and sustainable transportation system, reducing road congestion, improving connectivity and supporting the carbon-neutrality commitment that Chile has subscribed to by 2050.