Friday, October 2, 2026.
Colombia
Few countries in Latin America manage to combine history, natural beauty, culture and economic importance quite like Colombia. Positioned at the crossroads of Central and South America, with coastlines on both the Caribbean Sea and Pacific Ocean, Colombia is one of the region’s largest economies and home to more than 53 million people. It is also considered the second-most biodiverse country in the world, encompassing everything from Caribbean beaches and Amazon rainforest to vast plains, coffee-growing mountains and the soaring peaks of the Andes. Bogotá offers the energy and sophistication of a major international capital, Medellín has transformed itself into one of Latin America’s most fascinating modern cities, Cartagena preserves centuries of colonial history along the Caribbean, and beyond the major cities lies an extraordinary collection of smaller towns, mountains, rivers and landscapes that can make Colombia feel like several countries rolled into one.
For the international visitor, however, Colombia offers another attraction: value. A U.S. dollar can still go surprisingly far when converted into Colombian pesos, particularly when it comes to restaurants, transportation, personal services and accommodations outside the most heavily visited tourist districts. That purchasing power is partly the result of the considerable difference between Colombian and U.S. incomes and costs of living. Colombia’s GDP per capita was approximately US$8,562 in 2025, illustrating just how different the underlying economic scale remains from that of wealthier economies. At the same time, visitors should understand that Colombia is changing. The peso strengthened substantially against the dollar during 2026, making the country somewhat more expensive for foreign travelers than it had been previously, while domestic inflation has continued to put upward pressure on prices.
That contrast is part of what makes Colombia so interesting. It is a country of enormous natural wealth and considerable economic potential, yet one that continues to confront inequality, regional disparities, infrastructure challenges and the lingering effects of decades of internal conflict. At the same time, Colombia has become increasingly connected to the international economy and international tourism, while cities and regions once known abroad primarily for their difficulties are increasingly being recognized for culture, gastronomy, innovation and natural beauty. The result is a country that is difficult to describe with a single image—and perhaps that is precisely its appeal.
Colombia is not simply an inexpensive destination or another stop on the map of Latin America. It is a country of remarkable contrasts: sophisticated and traditional, mountainous and tropical, cosmopolitan and rural, economically ambitious yet still affordable to many international visitors. From a cup of coffee in the Andes to an evening overlooking the walls of Cartagena, Colombia offers the opportunity to experience an extraordinary amount without necessarily spending an extraordinary amount—and, more importantly, to discover a country whose complexity is every bit as compelling as its beauty.
Brett Mikkelson
Founder, B.M. Investigations, Inc. – Private Investigations in Panama
After Earthquake and Fiscal Crisis, Few Infrastructure Projects Expected to Move Forward This Year in Colombia
Colombia enters the final quarter of 2026 with few infrastructure projects expected to make progress, on an agenda shaped by the fiscal crisis, negotiations with the International Monetary Fund, and the definition of the National Development Plan 2026–2030.
The Development Plan is expected to be defined in late October or early November, as it must be approved by Congress. Which projects will be able to commit future budget appropriations will depend on this plan, Alexandra Jaramillo, a legal advisor specializing in infrastructure, told BNamericas.
Additionally, President Abelardo de la Espriella took office on August 7, and three days later a magnitude 7.4 earthquake struck the western part of the country, which, according to Jaramillo, disrupted the infrastructure agenda.
Two projects currently at the pre-bidding stage are Bogotá Metro Line 2 and the Northern Regiotram, both of which should make progress.
Progress is also expected in the processes for the Boyacá Railway, the Canoas Wastewater Treatment Plant (PTAR), and the initiatives aimed at improving navigation on the Magdalena and Meta rivers.
Bogotá Metro Line 2
During the final quarter of the year, the international consortia that are prequalified to build the project, whose investment is estimated at 34.9 trillion pesos (approximately US$10.5 billion), should submit their respective financial and technical proposals.
The consortia interested in the 5.5-kilometer line, which will have 11 stations, are:
APCA ML2 Bogotá (with Portuguese and French participation), comprising:
- Mota-Engil Colombia S.A.S.
- Mota-Engil Engenharia e Construção África S.A.
- Mota-Engil México, S.A.P.I. de C.V.
- Spie Batignolles Génie Civil
APCA Metro Capital L2 (Chinese consortium), comprising:
- Xi’an Metro Colombia S.A.S.
- Xi’an Rail Transportation Group Company Ltd.
APCA Bogotá Metro Capital (with Spanish participation), comprising:
- Sacyr Concesiones Colombia Participadas II S.A.S.
- CAF Investment Projects
A specialized team at Metro de Bogotá is currently evaluating the legal and financial capabilities and experience of the applicant consortia.
Northern Regiotram
The project’s final bidding documents are expected to be published during the final three months of the year. The project is valued at approximately 11 trillion pesos (around US$3.3 billion).
The commuter railway will have a 48.9-kilometer route and is expected to serve the current and potential demand of Sabana Centro, including the municipalities of Zipaquirá, Cajicá, and Chía.
It will have 17 stations and 26 fully electric trains, which will integrate with the district’s public transportation system: Bogotá’s two metro lines, the TransMilenio trunk routes, and the Western Regiotram.
Boyacá Railway
The government of the department of Boyacá expects to complete the prefeasibility studies for the Boyacá railway corridor in November. The project is valued at 24 trillion pesos (US$7.2 billion).
The corridor is being designed to operate at 120 km/h, with a projected capacity of 22 million passengers per year by 2050 and up to three million tons of freight, starting at 1.1 million tons. Currently, operating at 20 km/h, it transports 41,000 tons.
The Boyacá government is contributing 50.5% of the resources required to structure the project and has also allocated funds for the feasibility study.
The Boyacá Railway would become Colombia’s first regional railway system to integrate two departments and the country’s capital, covering 12 municipalities in Boyacá and eight in Cundinamarca.
Canoas Wastewater Treatment Plant (PTAR Canoas)
During the fourth quarter, the World Bank’s no-objection declaration for the Canoas Wastewater Treatment Plant project is expected. The project is part of the effort to clean up the polluted Bogotá River, which receives approximately 160,000 tons of organic waste each year, in addition to industrial effluents.
The US$1.5 billion project already has budget approval, and four prequalified bidders have been in place since 2025 to submit proposals.
The prequalified companies are:
- Unión PTAR de la Sabana (Acciona Agua Colombia and Sacyr Concesiones Colombia)
- Promotora del Desarrollo de América Latina
- APCA PTAR Canoas (Veolia Holding Colombia and Mitsui & Co. Infrastructure Solutions)
- APCA Aguas Canoas (Beijing Enterprises Water Group Limited, Shanghai Chengtou Sewage Treatment, and China Harbour Engineering in Colombia)
Once the World Bank’s approval is obtained, the bidding process would be launched.
Navigability of the Magdalena River
Progress is expected this quarter on this US$375 million project, which seeks to establish the river as a multimodal corridor that would reduce logistics costs and improve connections between river ports and the rest of the country.
The plan was conceived in 2014 under a public-private partnership model and has faced multiple technical, financial, and contractual obstacles over the past 12 years.
President Abelardo de la Espriella pledged to accelerate the project.
Navigability of the Meta River
The National Infrastructure Agency (ANI) expects to advance the prior consultation processes required for the project this quarter and launch the bidding process before the end of the year.
The US$465 million project seeks to establish a public-private partnership to reactivate river transportation on the Meta River, including the design, construction, operation, and maintenance of the necessary infrastructure.
The project’s scope includes dredging improvements during low-water periods, the acquisition, operation, and maintenance of dredging equipment, as well as the implementation of a satellite navigation system supported by bathymetric data and automatic water-level information.
CAF Approves USD 1.25 Billion for Five Strategic Projects in Colombia
The CAF Board of Directors — the development bank for Latin America and the Caribbean — approved five operations for Colombia totaling USD 1.25 billion, supporting the country’s strategic priorities in infrastructure, climate action, disaster recovery, sustainable mobility, and urban development.
The package includes USD 250 million to support the implementation of strategic projects under Medellín’s Development Plan and a credit line of up to USD 300 million to partially finance the Medellín Metro Investment Plan, focused on the expansion and modernization of corridors, urban integration around stations, and fleet renewal.
These operations are complemented by a Contingent Credit Line of up to USD 150 million to support the recovery and reconstruction of areas affected by the August 10 earthquake; up to USD 200 million to partially finance the rehabilitation, construction, operation, and maintenance of the La Dorada–Chiriguaná railway corridor; and USD 350 million to strengthen climate action, sustainable finance, biodiversity, and the blue economy.
“These five operations reflect the depth of our partnership with Colombia and CAF’s ability to support the country in addressing challenges ranging from disaster response and reconstruction to climate action, the recovery of strategic infrastructure, and the transformation of its cities. These USD 1.25 billion will translate into more resilient and competitive territories and greater opportunities for their residents,” said Sergio Díaz-Granados, CAF Executive President.
Five Operations for Colombia’s Development
- USD 350 million for climate action, biodiversity, and the blue economy. The Climate Action and Blue Economy Support Program will support public policies aimed at strengthening climate change adaptation and mitigation, protecting biodiversity, and promoting sustainable finance. It also includes initiatives related to the circular economy, the reduction of single-use plastics, sustainable small-scale fishing, marine pollution prevention, and ecosystem conservation.
- Up to USD 150 million for post-earthquake reconstruction. The Contingent Credit Line will support emergency response, early rehabilitation, and recovery following the August 10, 2026 earthquake. The resources will contribute to restoring essential infrastructure and services and strengthening institutional capacity to advance resilient reconstruction in the affected areas.
- Up to USD 200 million for the La Dorada–Chiriguaná railway corridor. The structured loan will partially finance rehabilitation and construction works, as well as the operation and maintenance of railway infrastructure and the acquisition of machinery and equipment. The project is being developed under a public-private partnership framework.
- USD 250 million for strategic projects in Medellín. The financing and technical assistance will support investments included in the city’s Development Plan in areas such as urban development, public spaces, sustainable mobility, and social and educational infrastructure. The identified initiatives include Parque Primavera Norte, infrastructure for Buen Comienzo and Escuela Inteligente, stadium renovations, and Metro de la 80.
- Up to USD 300 million for the Medellín Metro Investment Plan. The credit line may partially finance investments in transportation infrastructure, urban development, corridor expansion and modernization, and fleet renewal. The operation seeks to strengthen the system’s capacity, coverage, and efficiency while improving sustainable mobility and territorial integration across the Aburrá Valley.
U.S. Advises Against Travel to the Colombia-Venezuela Border Due to Risk of ELN Attacks
The U.S. Embassy in Colombia issued a security alert for its citizens on Tuesday regarding the “elevated risk of attacks” by illegal armed groups, including the National Liberation Army (ELN), in the Catatumbo region and the Colombia-Venezuela border area, due to the use of explosive-laden drones against security forces.
According to the Embassy, armed groups operating in Catatumbo repeatedly use commercial drones loaded with explosives, sometimes combined with rifle fire, to attack police substations and military facilities.
The diplomatic mission added that in Norte de Santander, “little or no warning” incursions may occur against police stations, government buildings, military facilities, and related infrastructure.
The warning is consistent with the U.S. Department of State’s travel advisory classification, which places Norte de Santander and the 10-kilometer strip adjacent to the Venezuelan border at Level 4, corresponding to “Do Not Travel,” due to the risks of crime, kidnapping, and terrorism. Nationwide, the U.S. government maintains Colombia at Level 3, which recommends “Reconsider Travel,” due to factors including violence, civil unrest, and natural disasters.
Given the security situation in the border area, the diplomatic mission urged its nationals to completely avoid the department of Norte de Santander. It also recommended remaining vigilant near government or military facilities and on major roads.
Among the guidelines issued, the mission advised “not confronting armed individuals, maintaining a low profile, and avoiding crowds and demonstrations,” as well as reviewing personal emergency plans and keeping phones sufficiently charged to deal with potential emergencies.
De la Espriella Government to Bring Together Business Leaders from Venezuela, Colombia, and the U.S. to Strengthen Trade Ties
The government of President Abelardo De La Espriella has launched a working agenda with Venezuela aimed at promoting investment, strengthening border integration, and expanding productive cooperation between the two countries.
The initiative was announced by Vice President José Manuel Restrepo and is part of the Misión Crecer strategy, with the participation of the Ministry of Mines and Energy, ProColombia, and the Colombo-Venezuelan Chamber.
The announcement followed a meeting led by Restrepo together with Minister of Mines and Energy María Nohemí Arboleda, representatives of the Colombo-Venezuelan Chamber, and the Investment and Foreign Trade vice presidencies of ProColombia. The objective is to establish a working roadmap to identify investment opportunities and projects of mutual interest.
“We found that there is a major opportunity arising from potential investment from Colombia into Venezuela,” Restrepo said. The vice president added that the goal is to advance a mutually beneficial relationship among the countries involved, leveraging coordination between the United States, Colombia, and Venezuela to promote investment and economic activity.
As part of this agenda, the Executive Branch ordered the creation of two sectoral working groups. The first will focus on food, medicines, and supplies and will be led by ProColombia and the Colombo-Venezuelan Chamber. The second will focus on infrastructure and energy and will be overseen by the Ministry of Mines and Energy.
Minister Arboleda highlighted opportunities for cooperation in areas such as mining and hydrocarbons, while the Colombo-Venezuelan Chamber stated that the process could help “reintegrate and strengthen all value chains” linked to the two economies.
The roadmap also includes a dedicated session during Milagro Week, where Colombian, Venezuelan, and U.S. business leaders are expected to meet to present priority projects and promote investment connections. The initiative forms part of the government’s strategy to attract capital to productive and infrastructure projects.
Restrepo has stated that Misión Crecer is aimed at promoting investment and productivity as part of the government’s economic strategy. Within this framework, the government has been developing projects and international promotional initiatives to connect Colombian ventures with investors, funds, and companies.
