President De La Espriella pledges narco assets for earthquake victims' reconstruction

President Abelardo De La Espriella has committed to personally overseeing the reconstruction efforts in Cali, the capital of Valle del Cauca, following a devastating earthquake on August 10th.

During a visit to Cali, De La Espriella announced a comprehensive package of economic and humanitarian measures aimed at accelerating civil works and providing relief to those affected. He emphasized his personal commitment, stating, "I will be aware of the reconstruction works that take place in the region. I will come as many times as necessary to verify their execution."

A key announcement involved the allocation of resources through the newly established 'Fondo Milagro' and the mobilization of a $200 million credit line to address the housing and infrastructure crisis. Notably, the government will reassign seized assets from drug trafficking to temporarily house displaced families.

To provide immediate relief, the government will offer a direct rental subsidy of 1,050,000 pesos for three months, with the possibility of extension. Furthermore, over 1,200 properties managed by the Society of Special Assets (SAE), which were confiscated from drug traffickers in Valle del Cauca, will be assessed for their suitability to house earthquake victims.

These measures aim to expedite the rebuilding process, which was initially estimated to take three years. The President's direct involvement and the utilization of unconventional resources signal a determined effort to support the recovery of the affected region.

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I will be aware of the reconstruction works that take place in the region. I will come as many times as necessary to verify their execution.