Central Bank: US$440M in new loans will boost sectors

Santo Domingo.- The Central Bank said Monday that the Monetary Board approved RD $25.5 billion (US$440 million) in new loans and refinancing for financial intermediation entities to access these resources at an interest rate of 3% per year and terms of up to three years.

“With these funds, financial intermediation entities will be able to channel new loans and refinancing to productive sectors at interest rates of up to 8% per year and to micro and small companies, at competitive rates in accordance with the costs inherent in this market segment.”

The new allocation of resources from the Rapid Liquidity Facility (FLR) will be distributed RD$5.0 billion for the Construction sector, RD$5.0 billion for the construction and acquisition of low-cost affordable homes of up to RD$3.8 million and RD$5.0 billion for retailers.

RD$5.0 billion were also allocated for micro and small companies and RD$5.0 billion for companies in the Manufacturing sector that take advantage of the Proindustria Law.