COFINA (Corporación del Fondo de Interés Apremiante)

COFINA, or the Corporación del Fondo de Interés Apremiante, is a financial entity created in Puerto Rico to manage and collect sales tax revenue specifically for bonding and paying debts. Established in 2006, COFINA was designed to provide funding for essential services and projects in Puerto Rico while also addressing the island's fiscal challenges. The organization issues bonds backed by these sales tax revenues, allowing the government to access necessary funds. COFINA's role became particularly significant during Puerto Rico's financial crisis, as it aimed to stabilize the economy and support public services through structured debt repayment.