El Dorado in Colombia: En route to becoming the next regional hub
In recent years, El Dorado International Airport in Colombia’s capital has more than doubled in growth, jumping from 8 million to 17 million passengers in 2011. Anticipating similar growth patterns, the airport embarked on a large-scale modernization project and turned to the IDB for long-term financing.
The IDB supported the expansion of El Dorado through a $165 million loan, as well as arranged $50 million co-financing from the Corporación Andina de Fomento (CAF) and $175 million from the China Development Bank (CDB) – a first between IDB and CDB.
Featuring cutting edge technology, the new airport is expanding its current capacity significantly and speeding up Bogota’s flight operations, reducing delays, fuel consumption and maintenance costs.
Due to be completed in 2014, the upgrades will:
- Triple the size of the original airport, going from 52,000 square meters to 174,000 square meters
- Exceed annual capacity of 26 million passengers by 2020
- Incorporate state-of-the-art international and domestic cargo facilities, to expand from 500,000 tons per year to 1.2 million by 2020
This public-private partnership is an example of governments and businesses working together to improve the quality and capacity of infrastructure services.