The Government of La Rioja has signed with three banks the refinancing of the loan signed on February 28, 2019 with the Official Credit Institute (ICO), charged to the Financing Fund for Autonomous Communities through the Financial Facility compartment, for total amount of 257.396.007,25 euros. This refinancing is long-term, maintaining the repayment term until September 30, 2029, and represents an estimated saving of 9,584,193 euros
The entities are Abanca, with whom 161,396,007.25 euros have been contracted, Kutxa Labor, with whom 64 million euros have been contracted and the Sabadell Bank, with whom 32 million euros have been contracted. In all three cases, the fixed rate is zero.
The Government of La Rioja has informed by means of a note that follows the strategy carried out by the Financial Policy unit of debt portfolio restructuring. “It is about seeking a lengthening of it, decongest the exercises with more weight, improve prices and take advantage of the opportunity offered by the financial markets after the policy of lowering rates set by the European Central Bank,” they say.
The Minister of Finance and Public Administration, Celso gonzalez, has indicated that the Government is going to “continue working in this line, since the refinancing of a long-term loan amounting to 70 million euros is currently in process of authorization, maturing on May 3, 2025, with an anticipated saving in interest of 2 million euros ”.
González has affirmed that this Government is analyzing in detail “everything to achieve savings.” And not just with loan refinancing, “we are also doing it with rent savings. In fact, the efficient management of the assets of the Autonomous Community has already allowed the Government of La Rioja to save more than 146,000 euros a year in leases ”, added the counselor.
Celso González has said, in short, that «it is about being more efficient in public management. To be more effective and to have more resources to continue strengthening the capacities of the public, something that is one of the great efforts of this government of progress.
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