Regional authorities propose funding for climate and earthquake recovery

In Chile, the Tarapacá Regional Government and the Regional Council (CORE) have expressed their intention to allocate 2% of the 2026 National Fund for Regional Development (FNDR) to address the climate emergency. This amount, exceeding 1 billion pesos, is intended to fund response, recovery, and rehabilitation efforts, such as infrastructure repair and aid for affected individuals. The specific projects must be identified and prioritized through the Committee for Disaster Risk Management (COGRID).

In Colombia, following a 7.4 magnitude earthquake on August 10 that impacted cities including Cali, Pereira, and Manizales, ANIF has proposed measures to finance reconstruction. Preliminary estimates suggest direct economic losses of approximately 24.5 trillion pesos in buildings and 5.5 trillion pesos in infrastructure, totaling roughly 1.6% of the national GDP. ANIF suggests reviewing unexecuted investment resources from the 2026 General Budget to mobilize funds without relying on permanent taxes or compromising fiscal sustainability.