The municipalities of Mijas, Rincón de la Victoria, Torrox and Álora are the latest to sign credit agreements to enable them to settle outstanding bills to suppliers, some of which date back a decade or more. Vélez-Málaga and Benalmádena signed agreements on Friday.
Mijas has signed up for loans of €34.6 million to pay 1,274 outstanding invoices to 96 companies. The Mayor of Mijas, Ángel Nozal (PP), said that this will be a major boost and will mean that local companies will not have to lay-off more workers.
Rincón de la Victoria has signed agreements for loans of €23.4 million to pay 3,599 bills to 331 suppliers, these to be settled on June 1st. The Mayor, Francisco Salado (PP), said that without the loans it would have taken at least 18 years to pay invoices to suppliers and many local businesses would now have the possibility to survive.
Torrox Council has signed agreements for loans of €4.9 million to pay 1,100 bills pending for the past decade.
Álora Council has signed agreements for loans of €1.9 million to pay over 2,000 outstanding bills.