Of the 1 Billion Euro predicted to be unlocked this year, according to the financial re-adjustment program, Madeira received 158,6 million Euro in aid this week from the Portuguese government in order to pay the commercial debt due in 2012. This is the first of several installments that is expected throughout the year.
The announcement of the loan release to Madeira was confirmed yesterday by the regional government and a government source stated, "it will be made available to the region immediately”.
As for the outstanding debts from previous years, the payment of around 100 million begins this month and is expected to be paid by the end of the third quarter of 2012.
The decision was reached due to the fact that Madeira completed the "general measures” of the adjustment program for the first quarter of 2012, which led to the authorization by the Portuguese Treasury.
For more information, please visit: http://www.acropolissgps.com/
No comments:
Post a Comment