Blog BanRep | The Role of Banco de la República as a development bank
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This post explains why the 1991 Constitution revised the functions of a development bank, thereby allowing Banco de la República to fulfill its duties as the monetary authority and guardian of the currency’s purchasing power.
Publication Date:
Tuesday, 17 de March de 2026
08:45
According to the prevailing view in Latin America of the mid-20th century—which saw active state intervention as essential for promoting development—central banks were assigned a significant role as development banks. On this basis, they were expected to direct part of domestic savings under favorable conditions to key productive sectors to boost economic growth...
