HE Undersecretary of Treasury of Villena, Juan Jose Olivaresannounced its decision to open an account at the Bank of Spain on behalf of the Villena City Council. And this is in order to get the most out of their own funds, given the low profitability others offer. private organizations.
The purpose of the council is to contribute an important part of this account. Treasury transferssome 15 million euros.
Olivares said that the interest rate offered by the Bank of Spain “makes us town hall some 23,000 Euros per monthThis definitely represents a significant amount that justifies our making this decision.
With this operation, the City Council will move from paying interest to receiving interest, which “allows us to increase our funds and the ability to continue to finance projects of municipal interest,” stressed the head of finance. PSOE-Verdes de Villena government team.
For the mayor of the treasury, “having an account with the Bank of Spain has many advantages, especially as there are direct relationships between public institutions. “We also see that minimizes the risk of bankruptcy associated with commercial and private entities; It is really advantageous with the interest rates it offers to public institutions,” he said.