Economy August 1, 2019 | 8:44 am

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Builders can access US$102M for housing projects

Santo Domingo.- The Central Bank on Wed. announced flexible measures to access the funds released from the bank reserve to finance, through interim loans, the construction of housing projects.

The measures will give developers-builders access to some RD$5.2 billion (US$102 million) to finance any type of housing project, regardless of their final sale price, the Central Bank said in a statement.

“The interim loans maintain the terms and conditions approved by the Monetary Board through the Third Resolution of June 27, 2019, which are granted for a term of up to 2 years and at a fixed interest rate of 9%, which can be used in revolving form until the 6-year period is completed.”

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