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Both will receive a cash prize and technical support to help implement their winning ideas.

"We will benefit about 10,000 people by developing residential areas in the city center," said Peñalosa.

The mayor is seeking to raise up to $1.4 billion USD for new infrastructure, especially highways and a regional train.

Mayor Enrique Penãlosa wants to raise some $1.35 billion USD for transportation projects, but he is facing strong opposition from labor and the Social Party of National Unity.

Bogotá's high-density population is one of the city's strengths but further development must be better planned. "The government has to intervene," says Mayor Peñalosa.

“The difference between this and previous metros is that this one will actually be built,” said Bogotá Mayor Enrique Peñalosa.

The City of Bogotá controlled telecommunications company, Empresas Telefonicas de Bogotá (ETB) (BVC:ETB) has seated a newly formed board of directors that, in their first meeting, elected Jorge Castellanos Rueda (above) as the new president. In Colombia, it is common for...