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Headquarters | San Juan, Puerto Rico |
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Established | September 23, 1948 |
Currency | USD |
Preceded by | Development Bank |
Website | www |
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 |
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