Benidorm amortizes 11.1 million euros of debt of the Adjustment Plan

There are 2.8 million left to cancel it, an operation that will take place between December and January
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Benidorm amortizes 11.1 million euros of debt of the Adjustment Plan.
Benidorm amortizes 11.1 million euros of debt of the Adjustment Plan.

Benidorm City Council will pay in the next days 11.1 million euros of debt of the Adjustment Plan, corresponding to one of the loans concluded in 2012. The councilor of Finance, Aida García Mayor, explained that “once we amortize this amount,  2.8 million euros of the Adjustment Plan will be pending, which was initially expected to be canceled in 2023 and that we can settle definitively in advance between December and January ”.

The early amortization of the 11.1 million euros has been specified in a decree signed today by the mayor, Toni Pérez, and confirms “the commitment of early cancellation of the Adjustment Plan that we adopted last July when we approved the municipal budget for 2019 ”, said García Mayor.

The mayor has stressed that "the early cancellation of loans from the Adjustment Plan results in more sound accounts, which are the endorsement of serious, efficient and rigorous economic management made in the last four and a half years."

García Mayor has pointed out that “once the Adjustment Plan has been fully canceled, the Bank's bank debt will be around 15 million euros; a figure that corresponds to several loans that we are paying month by month since they have very low interest rates ”.

She also stressed that "the early amortization in four years of the debt of the Adjustment Plan will allow us from 2020 to have a greater investment capacity to address important projects and works to continue improving Benidorm and promote the reduction of taxes, among others the IBI, fulfilling the commitment with which we presented ourselves to the elections of last May ”.