Council saves money

RINCON DE LA VICTORIA Council has renegotiated two loans in order to save a total of €1.2 million.
Cajamar bank has agreed to lower the interest rate of the €2.5 million and €8.4 million loans from 3.5 per cent to 2.5 per cent and from 5.75 per cent to 3.75 per cent respectively, following a request from the council.
Town mayor Francisco Salado explained that the money saved will be allocated for new social projects and employment programmes.