The governor of the Central Bank is encouraging the nation’s savings and loan associations to obtain stand-by loans for construction projects or housing purchases. This money comes from the freeing of funds from cash reserve requirements.
Governor Hector Valdez Albizu spoke of RD$36 billion in legal reserves for loans of all sorts at fixed rates of 9% interest over six years made available in May 2019. He said that of the RD$13.6 billion set aside for housing construction under the preferential terms, only RD$1.73 billion has been used, or around 13%. He urged the S&Ls to accelerate their placement of loans for housing.
2 September 2019