The Amendment Bill to the Development Finance Corporation Act was also presented in the Senate. This Bill seeks to strengthen the institution by streamlining qualified borrowers. Senator Christopher Coye rose to explain that the DFC has been operating at losses in the millions. He spoke specifically, of 2018 and 2019 where the facility lost over four million dollars.
According to Senator Coye, the DFC is in a much stronger position now. So much so, that for 2021, the DFC reported a loss of three hundred thousand dollars as opposed to the millions lost in previous years. Senator Coye noted that for this upcoming fiscal year, the DFC is projected to register a profit Supporting the Bill was the Union Senator, Elena Smith.
Also registering support for the DFC Amendment Bill was Senator for the private sector, Kevin Herrera.
