The Central Bank announced on 16 April 2020 that it is providing for the refinancing of debts at more favorable conditions for which a short-term liquidity window of up to RD$15 billion pesos is being set up. The funds will be available for micro, small and medium enterprises (MSMEs) through the Banco de Reservas and other financial intermediation entities that wish to access this facility.
“The financial institutions will have access to these resources for a period of one year, at an interest rate of 3.5%, using public debt securities and those of the Central Bank as guarantees,” said Central Bank Governor Héctor Valdez Albizu in a press conference on 16 April 2020. The banks will receive the funds at 3.5% for lending to companies at 8% annual interest rate.
He said that these financings would have a special treatment, since they would be classified with category of Risk A, with zero provisions and will not be considered in the calculation of the solvency index for a period of one year.
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N Digital
Diario Libre
17 April 2020