Luis Carlos Fernández Trinchet was ratified as executive director of the Administration for Housing Financing (AFV) by its Board of Directors following the appointment of the governor Wanda Vázquez Garced
Fernández Tranchet was also recommended by the Board of Directors of Economic Development Bank for the position of president, nominated by the first executive on August 15, and is pending ratification.
“I appreciate the willingness of Mr. Luis Carlos Fernández Trinchet to occupy these important positions directly linked to the economic development of Puerto Rico, one of the priority issues for this administration. Fernández Trinchet has been a public servant for more than a decade and has the qualities to establish the economic agenda that successfully defines the development of Puerto Rico ”, Vázquez Garced said in a press release.
For his part, Fernández Trinchet thanked the trust that the governor placed in him by recommending it, also, to the members of the Board of Directors of BDE and AFV for ratifying his appointment.
“I am very grateful for the confidence received, not only from Governor Wanda Vázquez Garced, but also from the members of the Board of Directors. I accept the appointment with great humility, understanding the great responsibility that comes with this new position, ”said the official.
Fernández Trinchet added that “the Bank for Economic Development faces several challenges, including the management of funds from the Community Development Block Grant Program (CDBG-DR), economic development for small and medium-sized merchants, as well as supporting government efforts to boost the Opportunity Zones program. Our institution seeks to encourage investment in low-income areas on the island. I trust that the Bank's work team will help me achieve the goals set, in order to achieve a better Puerto Rico. ”
As for the AFV, the designee said that an aggressive plan will be implemented to distribute the $ 400 million of CDBG-DR funds for rental projects to low-income people. Likewise, other financing facilities, subsidies and incentives will be promoted so that people can acquire or lease a decent home.
Fernández Trinchet has a bachelor's degree in Business Administration from the University of Puerto Rico; a master's degree in Business Administration with an emphasis in finance, business environment and public policy from the University of Rochester, New York; a Juris Doctor at the University of Puerto Rico and is a Financial Analyst Authorized by the CFA Institute. Also, he has served as a lawyer and legal advisor, and served as an advisor to the executive director of AFV.
(tagsToTranslate) economic development bank (t) administration for housing financing (t) wanda vázquez