The Open Tender for the Sixth Short-Term Borrowing of Taipei City’s Debt Fund in Fiscal Year 2016 is Successfully Processed, Saving About NT$195 Million in Interest Expense.
On Nov 3rd, 2016, in response to the need of fund management, the Department of Finance, Taipei City Government (TCG) held an open tender for the sixth short-term borrowing of Taipei City's debt fund in Fiscal Year 2016. Five financial institutions were participated in the bidding process. The award bidding price was NT$22 billion with a weighted average annual interest rate of 0.285%. The short-term borrowing reduce the borrowing effectively rate through the open price compete. By holding this open tender, the TCG could save about NT$195 million in interest expense year around.
![Taiwan.gov.tw [ open a new window]](/images/egov.png)
