Global debt quota of $11.7 billion for Bogotá approved its first debate in the Council

The draft agreement presented by the Administration, which authorizes a global quota of 11.7 billion pesos, was approved by majority in the Finance Commission of the Bogotá Council.

The initiative, which now goes to a second debate, seeks that the new resources requested can be used to finance the construction of schools, the expansion of student scholarships, post-secondary and higher education, as well as the second subway line and various actions of the Recreational and Care System.

“It is important to note that the borrowing capacity of Bogotá continues to be exemplary, with a payment capacity indicator that barely reaches 4% currently, against the limit established by law at 40%; with levels of debt sustainability close to 47%, before the limit of 100%”, explains the Secretary of the Treasury Juan Mauricio Ramírez.

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Likewise, the Council’s Finance Commission approved a debt quota of 3.8 billion pesos for the Bogotá Aqueduct and Sewer Company, earmarked for the company’s Investment Plan, mainly to finance the water treatment plant. (PTAR) Canoas, a project that will allow the treatment of 70% of Bogotá’s wastewater and 100% of wastewater from Soacha, with which the middle basin of the Bogotá River will be cleaned up.

In addition, the PTAR Canoas will contribute 23% to the fulfillment of the country’s sustainable development objectives (SDG) by 2030 and will improve the chemical and biological conditions of the Bogotá, Fucha, Tunjuelo and Soacha rivers.

The draft agreement approved by the specialized commission of the City Council, will begin to be debated in the coming days by the Plenary.

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