DR1 Daily News - Dominican Republic

The Central Bank of the Dominican Republic (BCRD) has authorized the release of RD$35 billion to stimulate the housing market. This decision, announced by Central Bank Governor Hector Valdez Albizu during a meeting with heads of multiple banks, aims to increase lending for home purchases, interim loans, and construction.

The funds, equivalent to 1.75% of the required legal reserve, will be channeled through financial institutions at an annual interest rate of up to 10%. A significant portion of the allocation, RD$14 billion, is specifically earmarked for low-cost housing, defined as homes valued at RD$5,025,380.75 or less.

“This measure, along with other liquidity-enhancing actions taken by the Central Bank, will contribute to accelerating the transmission mechanism of monetary policy and reducing interest rates on loans to productive sectors and households,” said...