EPM’s transfers

Company News    Jan 10, 2022 4:37 PM

EPM talked about economic transfers to zones of influence in 2021.

The company has delivered close to CoP$100B for the concept of electricity sector transfers to the regional autonomous corporations Corantioquia, Corpourabá and Cornare, La Republica reported.

The transfers were to 50 Antioquia municipalities and to the municipality of Uribia, in La Guajira.

These entities are located in the jurisdiction of the power generation reservoirs, the river basins that supply them or where the powerhouses are installed.

In total, 51 localities strengthened their finances with transfers from EPM during 2021, which in some cases come to represent about 20% of their budget.

The entity explained that these transfers can only be used by the municipalities in projects foreseen in their development plans, with priority on basic sanitation and environmental improvement initiatives, including the construction of urban and rural aqueducts, sewage works, and construction of septic tanks, sanitary landfills and wastewater treatment.

The Regional Autonomous Corporations must invest the transfers they receive in programs for the protection of the environment and in the defense of water basins and areas of influence of energy production centers.

In the case of National Parks, the funds must be used for preservation, restoration, sustainable use, and environmental education in paramos (high mountain tundra).

Bottom-Line: The challenge is to make the necessary controls to avoid acts of corruption or misuse of these important resources.

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