Puerto Rico Government Development Bank

The Government Development Bank for Puerto Rico, known as the GDB or in Spanish as Banco Gubernamental de Fomento para Puerto Rico, was established on September 23, 1948 and served as the government bond issuer, intragovernmental bank, fiscal agent and financial advisor of the government of Puerto Rico, managing bond issuance for numerous government agencies and state owned corporations through its subsidiaries and affiliates. It has been winding down its operations under the Puerto Rico Oversight, Management and Economic Stability Act, known as PROMESA, enacted in 2016. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/