Risaralda seeks private funding for 10 trillion peso earthquake reconstruction

Risaralda Governor Juan Diego Patiño Ochoa has estimated that the department requires more than 10 trillion pesos for reconstruction following the earthquake on August 10. Speaking at the 28th Andesco Congress in Cartagena, Patiño acknowledged that neither the departmental nor the national government currently possesses the necessary funds to cover these costs.

The earthquake has had a significant impact on the region, with departmental reports indicating that 73,087 families have been affected, 5,535 homes were destroyed, and 63,609 others were damaged.

To address the funding gap, the Governor is calling on the private sector to assist through the ‘Obras por Impuestos’ (Works for Taxes) mechanism. He has requested that Congress expand and streamline this process to allow more national companies to participate in recovery projects across the 14 affected municipalities. The Governor noted that the department has successfully used this model previously for a 34 billion peso road project involving 10 national companies.