Updated August 18, 2026 at 9:55 p.m. Colombia time
In an address posted at 7:36 p.m., President Abelardo de la Espriella announces a reconstruction framework and an economic emergency. Twelve minutes later, Reuters reports his preliminary COP 30 trillion estimate, a figure expected to change as regional assessments proceed.
An explicitly preliminary estimate
The president puts the losses at about US$9.58 billion using Reuters’ conversion. He allocates COP 24.5 trillion of the estimate to buildings and COP 5.5 trillion to infrastructure.
The figures are neither an approved budget nor a final bill. The president says they will change as regions are assessed.
Milagro Plan and Milagro Fund
The president announces the creation of the Milagro Fund and launch of the Milagro Reconstruction Plan. The consulted sources include no decree text, funding timetable or disbursement rules.
Housing and bills among the announcements
The address mentions rent subsidies, utility-bill relief and new or improved housing. These are presented as parts of a response to be implemented, not assistance already received by families.
A call to public and private actors
The president calls on businesses, banks, insurers, governors and mayors to participate. The next points to document are the legal framework, resources actually allocated, beneficiaries and timetable.
An appeal to banks and builders
In his August 17 address at 7:36 p.m., Abelardo asks the financial sector to lower rates immediately so families can rebuild or buy housing. He also calls on construction companies to work and donate part of their profits. No rate cut or contribution is yet confirmed.
Technical table brings together public and private actors
The ministry says the president tasked it with coordinating a three-phase reconstruction strategy. Local authorities, lawmakers, business groups, compensation funds and national and multilateral banks are taking part; the phase content, budget and schedule have not been published.
Update history
Updated August 18, 2026 at 9:52 a.m. Colombia time
The 7:30 p.m. entry now specifies the presidential requests to banks and builders, with no outcome yet established.
Updated August 18, 2026 at 9:55 p.m. Colombia time
The technical table announced at 7:18 p.m. was added retrospectively without assuming the content or implementation of the three phases.