Puerto Rico Government Development Bank

The Government Development Bank for Puerto Rico (GDB) —Spanish: Banco Gubernamental de Fomento para Puerto Rico (BGF)— is the government bond issuer, intragovernmental bank, fiscal agent, and financial advisor of the government of Puerto Rico.^[1]^[2] The bank, along with its subsidiaries and affiliates, serves as the principal entity through which Puerto Rico channels its issuance of bonds. As an overview, the different executive agencies of the government of Puerto Rico and its government-owned corporations either issue bonds with the bank as a proxy, or owe debt to the bank itself (as the bank is a government-owned corporation as well).

Entity	Common name	Type	Responsibility
Authority for the Financing of the Infrastructure of Puerto Rico	AFI	affiliate	infrastructure
Children's Trust Frund	CTF	affiliate	childhood improvements
Industrial, Tourist, Educational, Medical, and Environmental Control Facilities Authority	AFICA	affiliate	multiple sectors
Housing Finance Authority	PRHFA	subsidiary	housing subsidies and incentives
José M. Berrocal Institute for Economics and Finance	Berrocal Institute	subsidiary	internships
Municipal Financing Agency	MFA	affiliate	municipalities
Municipal Financing Corporation	COFIM	affiliate	municipal tax
Public Financing Corporation	PFC	subsidiary	general obligation bonds (executive agencies/central government)
Public-Private Partnerships Authority	PPPA	affiliate	public-private partnerships
Sales Tax Financing Corporation	COFINA	affiliate	sales tax (IVU/SUT)
Tourism Development Fund	TDF	affiliate	tourism and hotel industry

^ "Banco Gubernamental de Fomento para Puerto Rico" (PDF). Government of Puerto Rico. Retrieved December 1, 2014.
^ "Banco Gubernamental de Fomento (BGF)". Government of Puerto Rico. Retrieved December 1, 2014.