The Public Treasury has announced an agreement with several credit institutions to grant a loan for 8,000 million euros to finance the Autonomous Liquidity Fund (FLA), the mechanism of liquidity support for communities to utónomas, so they can meet their debt maturities. The final endowment of the fund, which will reach this year 18,000 million euros, will be completed with a loan from State Lotteries for 6,000 million euros and a disbursement from the Treasury of 4,000 million euros.
Bank credit will be structured as a private placement of Treasury bonds to a group of credit institutions and will be carried out in two phases. In the first, 3,000 million euros will be obtained through an issue that will be disbursed at the end of September. The second disbursement of € 5 billion will take place in mid-October.
In this way, a further step is taken in the provision of the FLA, an instrument that will serve to guarantee the sustainability of the public accounts of the autonomous communities and that contributes to achieving the objectives of budgetary stability.
