US$584M from bank reserve headed to productive sector loans

Santo Domingo.- Dominican Central banker Héctor Valdez Albizu, on Mon. called a meeting of the Dominican Republic Commercial Banks Association (ABA) and the Dominican League of Savings and Loan Associations (Lidaapi) to inform them of the RD$29.2 billion (US$584 million) from the bank reserve to be channeled towards loans for the productive sectors. “which are key in the growth of the nation’s gross domestic product.”

“The international scenario continues to be affected by convulsive and unstable situations, such as the dispute between US and Chinese trade policies, as well as the volatility of oil prices, among others, that influence the creation of a climate of uncertainty in international financial markets that could eventually affect the Dominican Republic, so it is necessary to react, providing greater and better financing possibilities for Dominican economic agents,” Valdez said in a statement.

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