BOGOTA (Reuters) - The board of directors of the Inter-American Development Bank (IDB) on Wednesday approved a $415 million credit line, with an initial disbursement of $50 million, to finance Bogota's second metro line, the Colombian capital's mayor said. The underground Line 2 will connect to the city's west, said Mayor Claudia Lopez, who finishes her term this year after overseeing initial construction on Bogota's long-awaited first metro line. At a price tag of 34.9 trillion Colombian pesos ($8.5 billion), Line 2 is expected to benefit nearly 2.5 million inhabitants and stretch 15.5 kilometers (9.63 miles) connecting 11 stations. Line 1, currently being constructed by Chinese companies Harbor Engineering Company and Xi'an Metro Co., extends 23.9 kilometers overground - despite opposition by President Gustavo Petro, who wanted part of the line to be constructed underground. The metro is considered critical to reducing the chaotic traffic in the capital of more than eight million residents and will complement the existing TransMilenio bus system.

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Persons: Claudia Lopez, Lopez, Gustavo Petro, Luis Jaime Acosta, Sandra Maler Organizations: Inter, American Development Bank, Colombian capital's, European Investment Bank, Development Bank of Latin America, Harbor Engineering Company, Xi'an Metro Co Locations: BOGOTA, Colombian, Bogota, Xi'an