{"id":136607,"date":"2025-11-12T13:16:02","date_gmt":"2025-11-12T12:16:02","guid":{"rendered":"https:\/\/lavozdeibiza.com\/sin-categorizar\/ibiza-city-council-will-reach-zero-debt-after-repaying-an-11-9-million-loan\/"},"modified":"2025-11-12T13:16:02","modified_gmt":"2025-11-12T12:16:02","slug":"ibiza-city-council-will-reach-zero-debt-after-repaying-an-11-9-million-loan","status":"publish","type":"post","link":"https:\/\/lavozdeibiza.com\/en\/current-news\/ibiza-city-council-will-reach-zero-debt-after-repaying-an-11-9-million-loan\/","title":{"rendered":"Ibiza City Council will reach zero debt after repaying an 11.9 million loan"},"content":{"rendered":"

The City Council of Ibiza will achieve zero debt<\/strong> after approving, in the extraordinary plenary session convened for this Thursday, November 13,<\/strong> the necessary budget amendment to repay in advance and in full the loan<\/strong> it has with Caja Rural de Arag\u00f3n<\/strong>, for a total amount of 11,950,190.77 euros.<\/strong><\/p>\n

This operation will be possible thanks to the positive cash surplus<\/strong> obtained after the 2024 budget settlement, which reflects the good economic health of the Consistory<\/strong>. According to Article 32 of Organic Law 2\/2012 on Budgetary Stability and Financial Sustainability<\/strong>, municipalities with surpluses must use these resources to reduce their debt. <\/p>\n

The loan with Caja Rural de Arag\u00f3n was the only long-term credit operation in force<\/strong>, formalized for an initial amount of 11.95 million euros, with a term of 96 months and a grace period of 24 months. The interest rate applied was variable (EUR3M + 0.28%)<\/strong>, with an initial interest rate of 4.093%, and without early repayment fees. <\/p>\n

“Ibiza is free of debt”<\/h2>\n

The first deputy mayor and councilor of Economic Resources, Gema Mar\u00ed<\/strong>, stressed that with this cancellation “the City Council of Ibiza will be left with zero debt, after having fulfilled the objectives for which this loan was contracted: to guarantee the investments of the transforming projects of our capital”.<\/p>\n

The funds from this financial operation have made it possible to execute essential projects for the municipality<\/strong>, among them:<\/p>\n

    \n
  • \n

    The extension of the Can Cant\u00f3 school<\/strong> (future Es Putxet school).<\/p>\n<\/li>\n

  • \n

    Acquisition of vehicles<\/strong> for the Local Police<\/p>\n<\/li>\n

  • \n

    Investments in urban mobility<\/strong><\/p>\n<\/li>\n

  • \n

    Improvements in municipal cemeteries<\/strong><\/p>\n<\/li>\n

  • \n

    Renovation and expansion of playgrounds<\/strong><\/p>\n<\/li>\n

  • \n

    Actions on beaches and bathing areas<\/strong><\/p>\n<\/li>\n

  • \n

    Acquisition of funds<\/strong> for the Municipal Library<\/p>\n<\/li>\n

  • \n

    Investments in public transportation and sports facilities<\/strong><\/p>\n<\/li>\n<\/ul>\n

    Public exhibition and final approval<\/h2>\n

    The file will remain in public exhibition for fifteen working days<\/strong> after its publication in the Official Gazette of the Balearic Islands (BOIB)<\/strong>, so that interested persons may present allegations. If they are not presented, the initial approval will be automatically elevated to definitive. <\/p>\n

    In this way, the City Council will culminate the process that will allow it to be free of financial debt<\/strong>, consolidating an economic management “based on responsibility, sustainability and efficiency in the use of public resources,” concluded Mar\u00ed.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The Consistory will pay off its loan with Caja Rural de Arag\u00f3n in advance thanks to the 2024 surplus, which reflects the good economic health of the municipal coffers.<\/p>\n","protected":false},"author":31,"featured_media":130575,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[2910,2918],"tags":[2912,8895,8894],"ppma_author":[6610],"class_list":["post-136607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-news","category-ibiza-en","tag-actualidad-3-en","tag-budget","tag-debt"],"acf":[],"yoast_head":"\nIbiza City Council will reach zero debt after repaying an 11.9 million loan - 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