Central Bank releases US$638.0M for use by any sector

Santo Domingo.- The Dominican Central Bank (BCRD) on Fri. said that as of Sunday financial intermediaries may use bank reserve resources pending disbursements, totaling RD$12.0 billion (US$638.0 million), in any of the sectors.

It also authorized that those institutions may finance homes of up to RD$15.0 million, to give other population segments the opportunity to finance the purchase of homes.

The BCRD said the resources may be placed interchangeably in export, manufacturing, agriculture, loans for the construction of housing (interim), housing up to RD$3.5 million, housing up to RD$15.0 million, commerce and SMEs; as well as personal consumption and vehicles, without particular limits among the different areas.

In a press release, the Central Bank says the measure “are based on the successful placement of resources released from bank reserve by financial intermediation entities, amounting to RD$22.3 billion, a 65.0% of the total authorized by the Monetary Board.”