Eurocaja Rural wins bid with 2.47% fixed rate to finance infrastructure, urban renewal, and public facilities
The Torrevieja City Council has approved a €32,670,566 long-term bilateral loan to fund strategic investments outlined in the 2025 municipal budget. The Generalitat Valenciana authorized the operation after confirming that the city’s net savings are positive and its debt ratio remains below the 75% threshold.
The loan, awarded to Eurocaja Rural S.C.C. at a fixed interest rate of 2.47%, will run for 12 years with a two-year grace period. During this period, funds will be drawn gradually to match treasury needs, with interest only charged on amounts used.
Competing bids came from BBVA, Banco Sabadell, Caja Rural Central, and Eurocaja Rural, all meeting financial prudence requirements. Eurocaja Rural’s offer ranked highest technically and economically, ensuring responsible municipal borrowing well below legal cost limits.
Economy and Finance Councillor Domingo Paredes highlighted that the strong response from the financial sector reflects Torrevieja’s solid economic position, allowing access to highly favorable financing terms. He stressed that the loan enables an ambitious investment program without compromising budget stability.
Projects financed include €5M for road resurfacing, €4.9M for reordering the port area, €2.34M for the Eras de la Sal and Ice Factory renovation, €2.42M for Dique de Levante repairs, €4.5M for the La Plasa building refurbishment, €1M for Playa de los Locos promenade, and €1.3M for an Alzheimer’s center.
Paredes concluded that the investments aim to improve the city, create jobs, and boost the local economy, proving that responsible management and financial stability are key to transforming Torrevieja.
