In recent days, The Mayor’s Office of Cali closed an operation with Bancolombia To be the first financial entity that will deliver resources to the city in the framework of public credit Approved by the Council in December 2024and with which important projects enshrined in the 2024-2027 development Plan are expected.
Although the approved credit quota is $ 3.5 billion, this does not force the district to compromise all those resources. In fact, The country knew exclusively that The agreement reached with Bancolombia is only for $ 365 billion, just over 10 %.
“Since last year, since the same December and particularly with the authorization of the COMFIS, the Administrative Department of Finance sent letters to the different financial entities inviting them to be part of these new public credit operations,” Jhon Quinchua, director of the Treasury of Cali, explained to this newspaper.
It was on February 21 of this year when the administration received several offers from the bankensuring that the priority was to look for the best market conditions for the city’s finances.
In that process, the district requested minimal conditions to financial entities, consisting of a minimum of 10 years for the payment of the debt, Minimum 3 years of grace and for the interest ratea IBR (reference bank indicator) of +1,9 %.
“Bancolombia is giving us more time, 12 years, that is, we are going to be 12 years old to pay that debt, and the interest rate is IBR +1.9 % plus 3 years of grace“Quinchua detailed.
In order to use resources and start the projects, the local government must achieve an addition to the 2025 budget by the Council. The project was already based since this Friday, May 2.
“This week then We hope to start studying that project in the Budget Commissionprocess the budget addition and there to be able to start executing those resources. ”
The director of Finance of Cali took the opportunity to clarify that the agreement with Bancolombia does not mean that all that amount is given to the administration immediately.
“We cannot disburse the resources and park them in bank accounts of the district Without having executed the project. The way in which credit resources are executed is counter-execution, that is, to the extent that it goes, for example, executing the adequacy of the educational headquarters, because to that same extent the resources are disbursing, ”said the official.
Therefore, what the local government now has is the guarantee of resources to start developing the projects that were promised to the city with the credit.
What projects will be executed with these resources?
Public credit and the project called ‘Invest to grow’ intends to develop Around 35 initiativesbut for this first amount of $ 365 billion some of the most urgent have been prioritized.
“In this first public credit operation we have celebrated, projects such as The improvement of physical infrastructure of educational headquarterswhich is something that is in the development plan; Two, we also have the strengthening of the mayor’s technological platform; We have the strengthening of the free Internet service in parks and public areas of the district; Improvement of cultural equipment; Scholarships oriented to training for work, and something very important, perhaps because the project that has more resources in this quota is The recovery of the city’s infrastructure”Finchhua listed.
In the case of educational headquarters, In this investment the first 20 venues of the city will enter to intervenewhile in the next agreements with financial entities they would be affected more.
Likewise, the group of large infrastructure works that have been announced for the city in recent months, such as the Central Cañaveralejo Park, the Chipichape bridge, the Boulevard of Sixta Avenue or the great renewal of the Historic Centerthey would be executed with upcoming credit operations.
This is the complete list of projects in which it will be invested with the resources of the first agreement, in addition to the amount allocated to each one:
Finance also told The country who has been working for months With several financial entities To agree on the terms under which more public credit resources will be delivered to the city, to continue with the other projects.
Of the total credit quota, there is still an approximate amount of about $ 3.13 billion that could look for the district.
