The Municipality of Portimão paid, in a week, more than 30 million euros in debt, after having received the first tranche of the loan taken out by the municipality from the FAM (Municipal Support Fund).
The first tranche received by the Municipality of Portimão, of 33,2 million euros, is exclusive for the payment of debts.
According to a statement from the Municipality of Portimão, «the first payment orders have already started to be processed by the services of the municipality, and, at this first moment, debts will be paid to 7 suppliers and 6 banking entities».
The supplier that will receive the largest amount is Frota Azul, who will be paid 6,1 million euros of a debt of approximately 12,6 million contracted by the company Portimão URBIS, which is currently in the process of extinction.
On the 4th of October the municipality of Portimão saw its candidacy of around 142 million of euros be approved by the Court of Auditors.. The total approved amount will be unlocked in 6 quarterly tranches, starting in October 2016.
Veja here the list of payments already made.
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