Yesterday the summit began between the European Union (EU) and the Community of Latin American and Caribbean States (Celac)with an investment announcement from the EU of more than 45,000 million euros (US$50,584 million) for Latin America.
The investments will go until 2027 through the Global Gateway program for environmentally sustainable projects in all the countries of the region.
In the case of Colombia, the multimillion-dollar EU fund will allocate a part of the resources to the construction of the second line of the Bogotá Metroa 15.8 kilometer extension of line one.
“The first line of the Metro is at 20% completion so that it can be released in 2028. Now the second of the four multilateral bank loans that supports the contracting of the second line of the Bogotá Metro, the first underground and that will benefit another 2.5 million inhabitants”, said the mayoress of Bogotá, Claudia López, from Brussels.
The second project in the transport sector that is in the sights of the European Union is the acquisition of 1,500 additional electric buses to contribute to the sustainable transition of public transport in the country.
In the digital sector, the EU also has on its investment agenda the increase in connectivity in the country to reach 85% coverage by 2026. This is planned to be launched through three pillars that are connectivity for “Peace Total”, cybersecurity, and the creation of a space agency.
A fourth project that is being worked on in Colombia and that would have European investment It is the management of wastewater from the Canoas WWTP, which the EU also cataloged as one of the priorities for this 2023.
And finally, the EU also plans to leave investments for the production of green hydrogen and renewable energy, in addition to other natural solutions for adaptation to climate change.
“From the first study to the contract for the first Metro line it took us 40 years. And now, from the first study to the completion of the second line, it took us three years,” said Mayor López.
Another investment priority for the EU is the development of a taxonomy for economic activities considered environmentally sustainable, such as green bond initiatives and access to financing.
“We want to invest in large infrastructure projects. European investments will try to create value chains. It seems fundamental to me that the added value is maintained at the local level, so that together we can have resilient supply chains”, said the president of the European Commission, Ursula von der Leyen, after announcing the 45,000 million euros for Latin America.
The European official added that there are already more than 135 projects in preparation, ranging from green hydrogen to fundamental critical materials. The list, which includes the aforementioned projects in Colombia, was drawn up in close collaboration with the Spanish Presidency and is the basis for future dialogues with partners in Latin America and the Caribbean.
The EU-LAC Global Gateway investment agenda will be carried out during the EU-Celac summit through the initiatives of Team Europe, which is made up of the EU, its Member States, development financing institutions, including the European Investment Bank (EIB), export credit agencies and all other public sources of financing. The business conference is also coordinated by the Inter-American Development Bank and the Development Bank of Latin America.
Financing for the second metro line
The Development Bank of Latin America and the Caribbean (CAF) will contribute US$255 million for the second line of the Bogotá Metro. “We are very happy because we all feel like Bogota, it is the capital city and we want to see it better and better. Of course, he will put his grain of sand in the bank, but not only with financing, but with technical support over time and the possibility that we continue to build better infrastructure in Bogotá”, affirmed the president of CAF, Sergio Díaz Granados, in the framework of the EU-Celac Summit in Brussels.
*Invited by the Commission
2023-07-18 05:59:15
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