This Fund may require assistance from the National Treasury as a loan, if necessary, which will be repaid under the same reimbursement conditions as those made by the provinces participating in the Program.in accordance with the provisions.
The financial conditions for reimbursement of assistance will be, among others, the following:
— Capital Amortization: It will be made in 24 consecutive monthly installments. The first expiration will operate on the last business day of January 2023.
— grace period: until December 31, 2022.
— Interests: they will accrue from each disbursement on the capital updated by the Reference Stabilization Coefficient (CER), will be capitalized until December 31, 2022 and will be payable monthly, with the first due date being the last business day of January 2023.
— Interest rate: will be 0.10% annual nominal.
— REC Application: the principal of the loan will be adjusted from the disbursement according to the CER corresponding to the period elapsed between the date of each disbursement and the date of each expiration.
— Services pay: Principal and interest services will be due on the last business day of each month.
The Fiduciary Fund for Provincial Development was constituted through decree 286 of February 27, 1995 and its purpose, among others, is to assist and finance development programs, improve efficiency, increase the quality of benefits and strengthen sectors of the real economy.
Economy now highlighted that the intention of the National State is “to continue ensuring access to essential goods and basic services for the entire population, as well as to apply public policies that sustain productive activities and raise the level of employment, collaborating with provincial jurisdictions” .
“Consequently, it is essential to take measures to sustain the finances of the jurisdictions that need it through an assistance program that makes it possible to attend to both its normal operation and cover the financial needs, to the extent of the possibilities of the National Government,” he concluded. .
Source: Ambito
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