(Image: President’s Office)
Colombia’s government drastically expanded the region affected by the August 10 earthquake in a second decree declaring an economic emergency.
According to the decree, President Abelardo de la Espriella declared the emergency in 15 of the country’s 32 provinces “for a period of thirty (30) calendar days, in order to conjure the crisis and prevent the spread of the disaster’s effects.”
“The territorial scope includes all municipalities listed in UNGRD Situational Report No. 36 and any additional municipalities where direct damage from the August 10, 2026 earthquake is specifically demonstrated,” said the decree.
The emergency decree declared a State of Exception, which allows the government to “adopt, through legislative decrees, all additional necessary measures and budgetary/credit operations to address the crisis” in the emergency region.
According to the decree, the government is considering the following extraordinary measures to respond to the disaster that left more than $9.5 billion in damages.
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Tax, credit, and budgetary flexibility to direct new resources to disaster recovery.
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Expedited public credit operations bypassing lengthy CONPES/DNP approvals.
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Use of the Royalty Savings and Stabilization Fund (FAE) resources as repayable loans.
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Expanding the “Works for Taxes” (Obras por Impuestos) mechanism to affected municipalities.
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Direct management and monetization of seized assets administered by SAE/FRISCO to fund emergency shelters and humanitarian relief.
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Authorizing financial cooperatives to temporarily extend credit and savings services to non-members affected by the disaster.
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Streamlining judicial operations, education delivery (remote/alternative spaces), school feeding programs (PAE), housing subsidies, telecommunications repairs, and labor support transfers.
Previously, De la Espriella announced a “Miracle Fund,” which would be used to channel donations from the private sector and international partners.
Since then, Colombia’s elite donated COP1.6 trillion ($526 million) of the $30 billion the government believes it needs for reconstruction.
