Financing models for cycling infrastructure in Colombia
- Published 2021
- Authors Andrés Martínez Selene Aparicio
More and more people are choosing the bicycle as a means of getting around the world’s cities. Municipal governments, therefore, have a responsibility to provide cycling infrastructure that encourages safe and comfortable cycling.
This guide outlines the funding process for cycling infrastructure projects in Colombian cities, to encourage the use of alternative sources of finance and alleviate the economic burden on municipal governments. Bogotá’s Ciclo Alameda Medio Milenio (CAMM) project is a prime example of the numerous components involved in the funding process.
We would advise Colombian cities seeking to secure funding for their sustainable urban development projects and for cycling infrastructure projects, in particular, to follow these steps:
• Identify the relevant actors.
• Define the technical specifications of the project.
• Evaluate the cost (construction, operation and maintenance).
• Identify funding sources and analyse their suitability.
• Evaluate the financing options.
• Develop a financing structure.
• Execute the project.
Armed with the information provided in this guide, Colombian cities can learn how to avail of a range of financing options and successfully implement their cycling infrastructure projects.