Puerto Rico Government Development Bank information
State bank
Government Development Bank for Puerto Rico
Headquarters
San Juan, Puerto Rico
Established
September 23, 1948; 75 years ago (1948-09-23)
Currency
USD
Preceded by
Development Bank
Website
www.gdb-pur.com
The Government Development Bank for Puerto Rico (GDB) —Spanish: Banco Gubernamental de Fomento para Puerto Rico (BGF)— is the government bond issuer, intragovernmental bank, fiscal agent, and financial advisor of the government of Puerto Rico.[1][2] The bank, along with its subsidiaries and affiliates, serves as the principal entity through which Puerto Rico channels its issuance of bonds. As an overview, the different executive agencies of the government of Puerto Rico and its government-owned corporations either issue bonds with the bank as a proxy, or owe debt to the bank itself (as the bank is a government-owned corporation as well).
Entity
Common name
Type
Responsibility
Authority for the Financing of the Infrastructure of Puerto Rico
AFI
affiliate
infrastructure
Children's Trust Frund
CTF
affiliate
childhood improvements
Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Authority
AFICA
affiliate
multiple sectors
Housing Finance Authority
PRHFA
subsidiary
housing subsidies and incentives
José M. Berrocal Institute for Economics and Finance
Berrocal Institute
subsidiary
internships
Municipal Financing Agency
MFA
affiliate
municipalities
Municipal Financing Corporation
COFIM
affiliate
municipal tax
Public Financing Corporation
PFC
subsidiary
general obligation bonds (executive agencies/central government)
Public-Private Partnerships Authority
PPPA
affiliate
public-private partnerships
Sales Tax Financing Corporation
COFINA
affiliate
sales tax (IVU/SUT)
Tourism Development Fund
TDF
affiliate
tourism and hotel industry
^"Banco Gubernamental de Fomento para Puerto Rico" (PDF). Government of Puerto Rico. Retrieved December 1, 2014.
^"Banco Gubernamental de Fomento (BGF)". Government of Puerto Rico. Retrieved December 1, 2014.
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