Monetary Board announces RD$60 billion injection in low cost loans
The Monetary Board authorized the creation of a Quick Liquidity Facility (FLR), making RD $ 60 billion available so banks can channel credit to companies and households nationwide. The fund will stimulate production and save jobs in the context of the present health crisis, the Central Bank announced on 23 July 2020.
Of this amount, RD$40 billion is to be allocated in loans with an 8% interest rate per year. The funds are targeted to medical centers, tourism, exports, construction, manufacturing, and farming that have been affected by Covid-19. RD$10 billion is being made available for Dominican households through personal and consumer loans. Another RD$5 billion is available for micro, small and medium enterprises for debt refinancing and new credit with Adopem, Banfondesa, Ademi, Banco Agrícola as well as through specialized financing programs for small business available through Banca Solidaria.
Source: DR1, N Digital
July 23, 2020
Category: DR News |