The Bogota City Council approved the future budgetary allocations (vigencias futuras) for the financing of the first metro line of Bogotá The Bogota City Council approved the future budgetary allocations of the first metro line

Brigard & Urrutia

The Bogota City Council approved the future budgetary allocations of the first metro line

Thu, 11/09/2017 - 10:38
NewsFlash: 396

Infrastructure and Public Utilities 

The Bogota City Council approved the future budgetary allocations (vigencias futuras) for the financing of the first metro line of Bogotá and executed the financing agreement with the Nation   

On October 31, the Bogota City Council approved the future budgetary allocations (vigencias futuras) for an amount equivalent to 6.08 billion pesos (approximately USD$2,03 billions), resources that will be committed by the  District Administration to assume 30% of the financing of the first metro line of Bogotá, in addition to the 70% assumed by the National Government. 

The previous step occurred after the National Government, through CONPES 3900, declared the strategic importance of the first metro line of the Bogotá, committing national resources for 70% of the project value. 

Likewise, on November 9, the District and the National Government signed the co-financing agreement, an agreement that guarantees the commitment of the resources required to perform the project. 

Following the aforementioned steps, the District Administration is planning to formally open the public tender at the beginning of 2018, expecting to start the construction of the project in 2019. 

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