Calasparra is one of five municipal areas in North East Murcia to present bills for debts with suppliers to the Ministry of Housing in order to obtain a loan, guaranteed by the state, to pay its debts.
Calasparra Town Hall is applying for a 3.56 million euro loan.
This special credit arrangement, over several years and with a 5% interest rate, was introduced by national government to enable local administrations to pay off their suppliers.
Some 3.3% of local administrations nationally have applied for these special credit arrangements including Bullas (6.1 million); Caravaca (12.4 million); Cehegin (2.13 million) and Moratalla (6 million).
