The plenary of Bogota’s city council endorsed the four-year plan submitted by city mayor Gustavo Petro, with 36 votes in favor and eight against.
The majority of the funds will be directed toward public transportation and social and environmental issues.
Depite being the most expensive development project in the city’s history, representative Antonio Sanguino estimates that the budget is about $9.9 billion short given the final goals of the project.
According to Caracol Radio, Sanguino warned the council that the extra money would have to be sought through co-financing or bank loans.
He also noted that several modifications were made to the plan. Articles that would have given extraordinary powers to city mayor Gustavo Petro were removed and intiatives to acquire a bank were stopped, Sanguino said.
The new plan includes $8.3 billion for education, $4.8 billion for health, $2.8 billion for social integration and $1.8 billion for shelter.