A  metro subway system (Quito Metro) is under construction. Phase One, begun in 2013, entailed the construction of stations at La Magdalena and El Labrador. Phase Two, begun in 2016, involves 13 more stations, a depot and sub-systems. The project is expected to carry 400,000 passengers per day and to cost $1.5 billion with financing coming from the World Bank, the Inter-American Development Bank (IDB), the European Investment Bank (EIB) and the Development Bank of Latin America (CAF) and is expected to be operating in June 2022.