The authorization made effective after the last Council of Ministers, will allow investors to have a new issue of public debt of the autonomous community worth 150 million euros, suitable for materializing allocations against the Canary Islands Investment Reserve (RIC).
The Council of Ministers already authorized the Canary Islands on February 27 to formalize long-term debt operations for a maximum amount of 718,420,354 euros until December 31, 2024, which may be implemented through loans and/or bonds and obligations.
Of that amount, the autonomous community requested the State to allocate 150 million euros to the issuance of public debt suitable for materializing allocations to the RIC.
The Government of the Canary Islands will allocate the amount of the debt to finance spending on projects that correspond to investments in infrastructure and equipment, or to improve and protect the environment in the Canary Islands territory, according to the items included in the Budgets of the Autonomous Community of the Canary Islands for the year 2024.
The Ministry of Finance and Relations with the European Union expects the bonds to be available from the month of September.
