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1. The Ministry of Finance authorizes rediscount line for higher education institutions to avoid student dropout.

The Ministry of Finance and Public Credit (Ministerio de Hacienda y Crédito Público) authorized Findeter (Financiera de Desarrollo Territorial S.A.) to incorporate a rediscount line applicable to public and private higher education institutions that offer incentive plans, scholarships or discounts on tuition fees to prevent student desertion caused by COVID-19 economic crisis.

2. The circulation of vehicles in Bogotá is once again restricted by plate number.

The measure is reinstated from Monday to Friday between 6:00 a.m. and 8:30 a.m., as well as between 3:00 p.m. and 7:30 p.m. Vehicles whose plate ends in an even number, including the number zero (0), will be restricted on even numbered days of the calendar and vice versa.

3.   The General System of Royalties sets to shape public policy.

Issues like road infrastructure, rural electrification, and employment stand as pillars of economic reactivation starting as of January 2021.

The President of the Republic sanctioned Law 2056 of 2020, through which the organization and operation of the general system of royalties is regulated. In particular, this Law sets the distribution, objectives, purposes, administration, execution, control, efficient use and destination of the income from the exploitation of non-renewable natural resources. Law 2056 of 2020 will enter into force in January 2021.

The new law includes a provision that makes it an additional tool for economic reactivation by allowing the departments, during 2021, to prioritize, make viable, register and directly approve investment projects in educational infrastructure, tertiary, secondary and urban road infrastructure, reforestation projects, rural electrification, reactivation of the agricultural sector, connectivity, employment generation and reactivation of the productive sector, drinking water and basic sanitation. 

With these new rules, the National Government estimates that $15.7 billion will be available for direct social investment in the period 2020-2021.