Vila Real de Santo António’s council has managed to access money provided by the Municipal Aid Fund so as to cut expensive short-term debt, much of which was built up to stop the flow of sewage into the Guadiana.
The council talks of continuing its “policy of consolidation of municipal finances, injecting liquidity in treasury and fulfilling its commitments to responsible management,” but the €19.2 million borrowed will have to be paid back by generations of ratepayers over the next 20 years.