The 2018-2022 National Development Plan “Pact for Colombia, Pact for Equity”, issued through Law 1955 of 2019, created the Territorial Pacts, which replaced the Plan Contracts, and the Regional Fund for Territorial Pacts, which replaced the Regional Fund for Plan Contracts.
Territorial pacts are agreements whose purpose is to articulate policies, plans and programs among various actors, aimed at the technical and financial management of high-impact projects. The actors that participate in the territorial pacts vary depending on whether it is a regional, departmental, or functional pact. Among these actors are the Nation, territorial entities, territorial association schemes and functional subregions.
On July 19, 2021, the National Council for Economic and Social Policy (CONPES for its Spanish acronym) approved the declaration of strategic importance of the project "Support for the development of projects through the Regional Fund for Plan Contracts, now Regional Fund for Territorial Pacts" , with the objective of promoting the strategic investment projects included in the Territorial Pacts, specially oriented to meet the needs in infrastructure and road connectivity, coverage of education and health services, aqueduct and basic sanitation solutions, among other needs.
Through this declaration of strategic importance, CONPES is committed to economic reactivation through the implementation of strategic projects, which, due to their importance in the national economy, high use of labor, generation of formal employment and impact on the management of territorial entities, generate benefits for the social and economic well-being of the country in the short and medium term. In this sense, it seeks to allocate resources for the execution of investment projects prioritized in the Atlántico, Bolívar, Casanare, Cesar - La Guajira, Cundinamarca, Golfo de Morrosquillo, Río Bogotá and Santander Territorial Pacts, in which 142 investment projects have been identified.
Thus, it is intended to guarantee resources of ordinary future fiscal periods in 2021-2025 for 1,964,703 million pesos, and exceptional future fiscal periods in 2022-2025 for a value of 801,290 million pesos, for a total of 2,765,993 million pesos, taking into account that the 2021 fiscal period had an allocation of 431,853 million pesos of resources from the Nation General Budget (PGN, for its Spanish acronym).