Monetary Board approves RD$25 billion in soft loans for damages during the 18 November flooding

Dolores

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The Central Bank is leading efforts to boost the Dominican economy and now adds a special package for low-cost lending for sectors in farming, commerce, construction, small businesses and even households significanty affected by flooding brought by the intense rains on 18 November 2023.

Central Bank governor Hector Valdez Albixzu highlighted that the monetary stimulus program seeks to maintain the gradual recovery of economic activity, in a context in which inflation would remain within the target range of 4% ± 1% established in the monetary program.

The governor indicated that financial intermediation entities will be able to channel resources to the abovementioned sectors at an annual interest rate of no more than 9%. Of the total authorized, RD$20 billion will be allocated for new loans and the remaining RD$5 billion may be used for the refinancing and...

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