Colombia Signs 11 Decrees to Finance Earthquake Reconstruction

Colombian President Abelardo de la Espriella said his government signed 11 emergency decrees to finance reconstruction after the August 10 magnitude-7.4 earthquake affected 16 departments. The package creates Fondo Patria Milagro to channel public, private and international funding and includes 17 financial, administrative and institutional measures for territorial governments. Other provisions allow exceptional FONPET use, temporary FONDES support for damaged electricity infrastructure, interjurisdictional investment and a reconstruction works-for-taxes mechanism. The measures also establish temporary DANE data access and give affected schools flexibility on locations, financing and calendars while facilities are repaired.