Portal de Cartagena
www.portaldecartagena.com
The Local Government Board has approved this morning the early redemption of 10.5 million euros, of which 35 made ​​with the Official Credit Institute to address the debt settlement providers in June 2012.
Specifically requested by the ICO in six financial institutions loans are canceled.
As explained by the Councillor for Finance, Fatima Suanzes, is a surplus amount from the municipal accounts of 2013 and will save in interest over the year of about 300,000 euros.
Suanzes has also commented on the appropriateness of this measure since July next month grace period ends on this loan and begin to pay interest.
Armed with this early repayment of the loan is reduced to ICO about 20.5 million, since we must add the amounts of depreciation for this year totaling four million.
This loan will be repaid in 2020.
As a result the overall debt of the City of Cartagena, which in December 2013 was 144 million was reduced ceramic December 2014 to 120 million.
ONE MILLION EUROS FOR INVESTMENT
The Governing Board also approved the Ministry of Finance requesting authorization for the conclusion of a loan of one million euros to five years, which will be used for investments in the Department of Decentralization and Provincial Barrios, the electrical connection of the Palace of Sports and improvement of the facilities of the Department of Social Services.
Suanzes commented that this authorization is perceptive, because although the City has a surplus in 2013, should use it first to the repayment of debt and request permission from the Ministry for further credit operations.
Source: Ayuntamiento de Cartagena
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