Caja Rural de Soria and Ibercaja will finance Zaragoza City Council with 10 million euros. They will do so after obtaining the two highest scores at the Contracting Committee, which has assessed a total of seven proposals submitted.
Specifically, the Consistory has tendered a long-term credit operation for a total value of 10,000,000 euros to both entities.
The operation, foreseen in the municipal budget of 2022 to make investments in the city, requires the authorization of the Government of Aragon so that it can be formalized and that the investments subject to the loan can be executed.
These are two loans of 5,000,000 euros each with Caja Rural de Soria and Ibercaja. The conditions of the loan for the conclusion of these long-term financial liabilities go through a variable rate of “Euribor 3 months” +0.24% and a maintenance fee of 0% in the case of Caja Rural de Soria and a variable rate of “Euribor 3 months” +0.44%, being exempt from commissions in the case of Ibercaja.
The Contracting Committee has made an award proposal taking into account the most economically advantageous conditions for the public interest, with the lowest interest rate and the lowest maintenance commission or penalty for deposit balances.
