Govt. releases US$584.0M from bank reserve for loans

Santo Domingo.- The Monetary Board on Thurs. authorized the release of up to RD$29.2 billion (US$584.0 million) from the bank reserve, to be channeled by the financial intermediators into loans from the national productive sectors.

Dominican central banker, Héctor Valdez Albizu said the released funds will be channeled to new projects and productive activities, at fixed rates of up to 9% and a term up to six years.

The official said the funds are earmarked for the export, manufacturing, agro, housing and SME sectors, as well as consumer loans. “The measure will contribute to maintain the high dynamism of economic activity, in a context of low inflationary pressures.”

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