The Monetary Board announced RD$25 billion in low-cost new loans and refinancing of productive sectors. The breakdown is RD$5 billion to the construction sector, RD$5 billion to the mortgage bank sector for low-cost housing (up to RD$3.8 million), RD$5 billion to commerce, RD$5 billion to micro and small business and RD$5 billion to manufacturers that fall under the Proindustria Law.
The funds are available to the banks at 3% interest rate for three-year terms. The banks will then channel these funds to their clients at interest rates of up to 8%, while small business loans will be at market rates for that sector as announced by the Central Bank.
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