Velez Malaga begins distribution of treasury loan

LOAN: Velez Malaga begins distribution of €4 million treasury loan. Source: Twitter @carmelitas_1993

THE Economic Area of the City of Velez Malaga has started to distribute the €4 million loan given to the region.

The loan has been granted to help fulfil some of the promised made during the municipal budge that was approved last week.

Councillor for Finance, David Vilches, explained that once they have confirmed the remaining details of the Velez budget, mechanisms are in place to obtain proposals to begin with the necessary funding straight away.

Vilches has explained that the loan has been granted thanks to Velez Malaga being in a good financial position, with the municipal government only needing to make small amendments to its initial financial framework to accommodate the repayment.

“It is necessary to act quickly and understand the best possible uses for the money that the Council has so that the neighbours and suppliers have more solvency,” he continued.

Among the first items on the list for investment is the Torre del Mar theatre that will receive multi annual investments.

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Written by

James Warren

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