translated from Spanish: With the diversification of the source of income, municipalities will be strengthened, says Arturo Hernández

Morelia, Michoacán.- Through a statement it was reported that they approved the amendment of the national bank of public works and services (BANOBRAS), with which the municipal administrations, will access an advance of the Contribution Fund for the Social Infrastructure (FAIS), this was reported by the local deputy of Acción Nacional, Arturo Hernández Vázquez, who pointed out that this strengthens the economy and conditions of the municipalities.

“Municipalities are the most affected by this government, at the moment we need to strengthen the municipal administrations and that is why we approve this proposal of the state executive, to access financing, which is not debt, but they are options for carry out works that are very powerful and that directly benefit the public,” he said. 

The Chairman of the Committee on Finance, Arturo Hernández, explained that the necessary padlocks were established to ensure that the appeal will be settled at the end of the administration, in addition to the projects representing a direct benefit, for which will have a fixed interest of seven point five per cent per annum, for the advancement of federal partitions.

“Municipalities may request from BANOBRAS an advance from FAIS as long as they have the approval of the lobby, the Congress and the Audit, there will be no projects supported without the necessary justification. The central idea is that they can do works without borrowing the administration, interest does not represent a debt, on the contrary, it is a respite for municipalities,” he said. 

Original source in Spanish