25-50 Mio. EUR
Applied Financing Solutions
Grants, Carbon Market, Public Revenues, Private Donations
In the run-up to its 500th anniversary, the Colombian metropolis Bogotá aims to double the number of cycling trips in the city. The „Quinto Centenario” Bikeway is the flagship initiative of the city’s strategy to achieve this target and will strongly improve citizens’ access to a climate-friendly, safe and convenient method of zero-emission travel. Traversing Bogotá from north to south, the 25 km-long cycle highway will connect people from low, middle and high-income neighborhoods with jobs, schools and recreational opportunities, and will support approximately 34,000 bicycle trips in the morning peak hours. Apart from the positive impacts on carbon emissions and local air quality, the project will also include measures to prevent flooding, enhance the security of vulnerable users (such as adequate street lighting) and promote economic development (e.g. by improvement of public spaces along the route). The C40 Cities Finance Facility is supporting the city administration to build capacity and explore new revenue and co-financing models to finance this specific infrastructure.
Success Factor | Hero Moment
Cycling has long been rooted in Colombian culture, and Bogotá’s initiatives such as Ciclovía and its car-free day have been replicated across the world. The city is attempting to tap into this popular support and translate it into participation and ownership in the "Quinto Centenario" project through communications, events, and various forms of stakeholder engagement. By this means, the success of the project is expected to become a model for numerous other cities.
C40 Cities Finance Facility, United Kingdom
Other Involved Stakeholders
Secretaría de Movilidad Bogotá, World Resources Institute, IADB