Latinnews Daily - 26 September 2017

Colombia: The economic and social policy council (Conpes), the government body tasked with coordinating the country’s economic policy, has approved the disbursement of Col$9.08trn (US$3.1bn) of central government funds for the financing of the building of the first line of a metro system for the city of Bogotá. The amount of funding approved by Conpes represents 70% of the total estimated cost of the project and should ensure its development, as the Bogotá municipal government will now have to come up with the remaining 30% of the funds for the project. The Conpes decision was celebrated by the director of Colombia’s national planning department, Luis Fernando Mejía, who said that “this is good news for Bogotá and the country. This project will have an important economic impact and [produce] social benefits…it will have an enormous impact on the city’s competitiveness”. The proposed 23.96km metro line will have the capacity to transport 72,000 commuters per day. Following Conpes’s approval of the funding for the project it is now expected that the Bogotá municipal government will open a tender for the project before the end of the year. 

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