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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]
The government-owned corporations of Puerto Rico —or public corporations (Spanish: ... Government Development Bank: GDB: Banco Gubernamental de Fomento: BGF: Banking:
In a TV address on Sunday, Puerto Rico's governor said the island's Government Development Bank will not make a $422 million payment to its creditors.
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.
The Puerto Rico Government Development Bank Act establishes that the Puerto Rico Government Development Bank (GDB) serves as the fiscal agent of the government of Puerto Rico. [10] Regardless of its special status, the GDB and all other financing agencies report to the Secretariat of Governance and the Chief of Staff .
Puerto Rico Industrial Development Company owned at the time in excess of 120 million square feet of industrial space in Puerto Rico. In 1975 he transferred to the Government Development Bank for Puerto Rico as its President until 1976 to oversee the Bank's business during one of the most difficult financial crisis in the municipal bond market ...
The Economic Development Bank for Puerto Rico —Spanish: Banco de Desarrollo Económico para Puerto Rico (BDE)— is a government-owned corporation of Puerto Rico that provides loans, loan guarantees, and funds to private organizations whose economic activities have the effect of replacing imports in Puerto Rico. [1]