Public-Private Partnerships
Public-Private Partnerships (PPPs) represent an important tool for the economic development of Puerto Rico. On June 8, 2009, Act 29 was approved in order to implement a new public policy that provides a clear legal framework and fosters the creation of PPPs in Puerto Rico. PPPs allow for the establishment of mutually beneficial contractual agreements between the Government and the private sector to provide public goods or services in a more efficient, effective and accessible way for the general public. The Government of Puerto Rico will be launching its official PPP website in the coming weeks. General information is available through in the links below:
Beginning June 11, 2009 until June 16, 2009, the sale of tax-exempt bonds for Puerto Rico residents is taking place.
The sale of bonds by the Puerto Rico Sales Tax Financing Corporation (COFINA) is a critical component of Puerto Rico’s fiscal and economic reconstruction strategy. GDB is responsible for all bond sales of the Government of Puerto Rico and its agencies. We want to make it easy for individuals in Puerto Rico and the United States to invest in COFINA bonds and benefit from the exemptions these bonds provide. Visit www.BuyPRBonds.com to find out how you can buy Puerto Rico Sales Tax Revenue Bonds.
Puerto Rico Economic Cooperation Savings Bonds
On Monday, May 4, 2009, the Government Development Bank for Puerto Rico (GDB) will begin selling P.R. Savings Bonds at its main offices in San Juan, P.R. By the second half of June, GDB expects to have the Savings Bonds available at cooperatives and commercial banks in Puerto Rico, and at the P.R. Treasury Department’s Internal Revenue Collection offices throughout the Island. Beginning with a minimum purchase of $100.00, each individual will be able to purchase in $50.00 denominations up to a maximum of $5,000. Payment for Savings Bonds can be made in cash, money order, cashier’s check or debit card transactions. The savings bonds will be available until the sale of a total of $20 million, as approved by the legislature through the Act No. 7 of March 9, 2009.
For more information, please read the Savings Bonds brochure (Only available in Spanish) and/or contact the GDB at 787-722-2525 x2063.
The Fiscal Restructuring and Stabilization Board of Puerto Rico (the “FRSB”) is the entity responsible for carrying out an essential component of the economic recovery of Puerto Rico, which we are taking on for the wellbeing of our future and, especially, that of our children. In particular, FRSB is charged with implementing the cuts in government spending, an indispensable aspect of the recovery plan to guide our Island into the path of genuine progress. (Only in Spanish)
Government Development Bank for Puerto Rico (GDB) contractors began construction and we are two months into the development of the infrastructure and public spaces component of this model project. The component includes the road infrastructure, the drinking water distribution and sewer systems, and an urban park that integrates a stream as its governing element.
