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The Bank was the brainchild of Governor Rexford Guy Tugwell, who signed Law 253 of May 13, 1942, creating the institution in charge of economic development for the Government of Puerto Rico. A subsequent law in 1945 expanded its responsibilities to include serving as the fiscal agent for, and financial advisor of, the government of Puerto Rico.
The following is a list of presidents of the Puerto Rico Government Development Bank, which until 2017 was the Commonwealth's main financial and economic development agency along with the Puerto Rico Department of Treasury and the Puerto Rico Department of Economic Development and Commerce. [1]
Puerto Rico’s Justice Department announced Tuesday that it is suing at least 30 ex-government officials accused of corruption to recover more than $30 million in public funds. Among those sued ...
The Puerto Rico Department of Economic Development and Commerce (Spanish: Departamento de Desarrollo Económico y Comercio de Puerto Rico) is the executive department of the government of Puerto Rico responsible for the economic development in the U.S. Commonwealth of Puerto Rico and all its commerce related matters.
A federal control board overseeing Puerto Rico's finances filed a lawsuit on Sunday to recover what it called massive fraudulent payments made by the island's power company to fuel suppliers for ...
The lawsuit filed against Gov. Pedro Pierluisi aims to protect the independence of the Puerto Rico Energy Bureau so it “can continue to operate free from political influence,” the board said.
The Bureau was part of a package of new agencies created to provide the impoverished United States territory with a state-like government. Some of the new agencies included the Puerto Rico Planning Board, the Puerto Rico Electric Power Authority and the Government Development Bank of Puerto Rico. It was created to assist the Governor in the ...
SAN JUAN, Puerto Rico (AP) — A court hearing on a major restructuring of Puerto Rico's mammoth debt opened Wednesday, with protesters warning the deal would further indebt the U.S. territory and ...