Africa-Press – Cape verde. The bond issue, worth 130 thousand escudos, made by the City Council of Ribeira Grande de Santiago Antão, to settle its municipal debt, will create a financial break of 900,000 escudos monthly escudos to the municipality.
With this operation, in the form of a private offer, carried out by the Cabo Verde Stock Exchange (BVC) and whose results were presented this Thursday, in the city of Praia, all bank commitments of the Municipality of Ribeira Grande are concentrated in the Banco Comercial do Atlântico (BCA), which was the liquidator bank.
“We had a monthly commitment of around 2,700 escudos per month and we managed to bring that down to around 1,600 escudos, creating a gap that allows us to make investments without putting the council into debt,” said the mayor, Orlando Delgado.
This was the first of two operations, the second of which will be a public subscription offer, with the participation of local investors, in the amount of 110,000 escudos, destined for projects in the municipality.
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