Macroeconomy/Finance

Guarantee funds for productive loans and social housing reached $427mn

The Government set for this year, a contribution of between 2% and 4% of the profits of the financial institutions to the Guarantee Funds for productive loans and social housing. Within this framework, these funds already have $427 million. By 2020, commercial banks will contribute with 2% of their 2019 profits and SMBs banks will contribute with 4%.

Source: El Deber