EDB’s Economic Activity Index shows 3.3% YoY growth in August
November 2, 2021
The Puerto Rico Economic Development Bank’s Economic Activity Index reflected a year-on-year increase of 3.3% for last August, which represents the sixth increase after 12 consecutive reductions, the agency confirmed. Compared to July, the same indicator reflected a slight improvement, an increase of 0.2%. “While it’s true that these are positive indicators, we’re also monitoring […]
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Puerto Rico’s small businesses to get boost into new markets through agreement
October 26, 2021
An agreement between the United Retailers Association (CUD in Spanish) and the Puerto Rico Economic Development Bank (EDB, in Spanish) seeks to boost growth among the island’s small- and medium-sized businesses into new markets. The collaboration between the public agency and the trade group will provide, among other benefits, public workspaces to CUD members. The […]
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EDB grants $1.4M to businesses in Bayamón affected by Hurricanes Irma and María
September 1, 2021
The Economic Development Bank for Puerto Rico (EDB) bestowed grants of up to $50,000 that added up to more than $1.4 million to small- and mid-sized businesses in the town of Bayamón that were affected by the passage of Hurricanes Irma and María. The government agency approved and closed 34 applications for businesses in Bayamón, […]
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BLS data shows stable employment levels in Puerto Rico due to startup growth
August 24, 2021
The island’s employment levels are stabilizing due to the fast growth rates of startups across business sectors, the US Bureau of Labor Statistics data collected by the Puerto Rico Economic Development Bank shows. The local agency’s Center for Economic Studies suggests that there has been improvement, since in 2020 the levels approached pre-pandemic averages during […]
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EDB’s Center for Economic Studies validates gasoline price hike, consumer impact
June 25, 2021
The latest report by the Puerto Rico Economic Development Bank’s Center for Economic Studies confirmed that increases in fuel prices are “affecting business operations and daily life,” agency President Luis Alemañy said. The price of any good can spike when it’s cost of production increases, inventories are scarce or its market demand is on the […]
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P.R.’s Economic Development Bank looks toward ’19 as year of ‘rebirth’
November 14, 2018
The Puerto Rico Economic Development Bank has undergone what its President Luis Burdiel called a “financial re-engineering."
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EDB, Economic Development to host blockchain seminar for entrepreneurs
October 11, 2018
All things related to blockchain technology and its role in business will be discussed at a seminar that will be held Oct. 16.
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P.R.’s economic activity index is flat year-over-year in August, but is driven by cement sales
October 9, 2018
The agency informed that the EAI reached a level of 121.9 in August of this year.
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EDB offers loans of up to $50K to ensure business continuity
July 30, 2018
The Economic Development Bank for Puerto Rico announced that effective immediately, it will begin offering new loans capped at $50,000 aimed exclusively at helping small and medium businesses effectively prepare for emergencies such as hurricanes and avoid subsequent interruption in business operations.
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P.R.’s Economic Dev. Bank to begin publishing Economic Activity Index
April 6, 2018
The Economic Development Bank for Puerto Rico will begin publishing the government’s Economic Activity Index before the end of April, agency head Luis Burdiel said.
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Gov’t: EDB sold its stake in Seaborne prior to bankruptcy filing
January 11, 2018
The Puerto Rico Economic Development Bank confirmed Wednesday the government entity will not be harmed by Seaborne Airlines bankruptcy filing, as it sold its 20 percent stake in the company last summer in anticipation of this decision.
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EDB offers emergency loans of up to $50K to help P.R. physicians recover
January 10, 2018
The Puerto Rico Economic Development Bank has signed an agreement with the College of Physicians and Surgeons to offer emergency loans of up to $50,000 to physicians whose practices were affected by Hurricane María.
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EDB grants $230K in credit lines to local companies
October 17, 2017
The Economic Development Bank for Puerto Rico has granted $230,000 in credit lines to local companies M&B Steel and Vernet, which will allow them to continue operating and grow in the midst of the crisis brought on by Hurricane María, agency President Luis Burdiel-Agudo said.
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EDB, Justice sign MOU for property registry oversight
September 1, 2017
The Puerto Rico Economic Development Bank and the Justice Department announced Thursday the signing of a Memorandum of Understanding that will streamline processes, increase administrative efficiency and strengthen enforcement efforts related to the Property Registry for both agencies.
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EDB unveils new commercial loan guarantee program
April 27, 2017
Economic Development Bank President Luis Burdiel-Agudo unveiled Wednesday details of a new guarantee or insurance program for commercial loans to be provided by other financial institutions, including credit unions.
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