Government Development Bank for Puerto Rico

The Government Development Bank for Puerto Rico (GDB) was a financial institution responsible for managing the territory’s public funds, issuing debt to fund government projects, and supporting economic development. It helped Puerto Rico finance infrastructure, services, and initiatives essential for its growth. The GDB also acted as a financial intermediary, providing liquidity and financial management for the government. However, due to financial struggles and debt issues, the GDB was closed in 2020, and its functions were transferred to the Puerto Rican government and other agencies to streamline operations and address fiscal challenges.