Silves municipal assembly has approved two loans with a total value of 15 million euros to help the Câmara pay off debts to suppliers.
The loans were approved by the municipal assembly on January 13, with votes in favour of the Socialist (PS) and Social Democratic (PSD) parties.
One loan to the value of nine million euros received from a Portuguese bank will be repaid in five years, while the other, to the value to six million euros, received from the national treasury will be repaid within 10 years.
