The ABA favors the Central Bank’s measure to increase funds by RD $ 40.0 billion to boost Dominican economy

Santo Domingo, DR

The Association of Commercial Banks of the Dominican Republic (ABA) valued as positive the measure announced by the Central Bank to increase the Quick Liquidity Facility by RD$40,000 million, to channel resources to the productive sectors Miymes and homes at competitive rates.

The ABA understands that, through refinancing, restructuring, and new loans, it will continue supporting the different economic activities impacted by the pandemic.

The ABA stated that such resources, coming from the availability of Short Term Repos that expired and are available to be placed again by the financial intermediation entities, will allow access to banking resources with lower interest rates and better payment compliance terms.

Likewise, he indicated that the multiple banks maintain their commitment to support the country’s main productive sectors and the general public, under the objective of jointly promoting the recovery and dynamization of the Dominican economy and the conservation of employment.

“We also welcome this hopeful speech that, on the occasion of the seventy-third anniversary of the institution, once again demonstrates the willingness of the authorities to alleviate the economic impact that the pandemic has generated for all of us,” said the entity that brings together the country’s multiple banks.

He also said that the multiple banks maintain an open dialogue with the different productive sectors to see, case by case, the restructuring facilities they deserve, betting on accompanying them with that hope of recovery.