Porto Novo: Municipal executive to resort to bank loan to carry out investments

Porto Novo, Dec 17 (Inforpress) – The city council of Porto Novo intends to turn to the banking sector to contract a long-term loan to carry out investments in the municipality, starting in January, the local authority announced today.

A document accessed by Inforpress states that the municipal executive will submit to the municipal councillors, at the next session of the Porto Novo Municipal Assembly, scheduled for December 19 and 20, a request for authorisation to approach the banks.

The municipality has not disclosed the amount of the loan, but Inforpress has learned that the executive plans to take advantage of the fact that Porto Novo remains under a state of calamity to resort to bank financing in order to implement a package of investments starting in January.

At the same session of the Porto Novo Municipal Assembly, the local authority will also submit to the elected officials a proposal to amend the 2025 budget. The agenda will also include discussion and approval of the organisational structure and staffing plan of the municipal council.

JM/CP

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