Banreservas and FAO launch RD$1.18 billion financing program to modernize Dominican agriculture
Santo Domingo.- The Dominican Republic’s Reserve Bank (Banreservas), the Food and Agriculture Organization of the United Nations (FAO), and the Ministry of Agriculture have agreed to establish a financing mechanism of approximately RD$1.18 billion (US$20 million) to support the modernization and strengthening of the country’s agricultural sector.
The resources will finance projects focused on farm mechanization, new technologies, efficient water and natural resource management, climate-change adaptation, and increased agricultural productivity.
The agreement will also provide access to national and international FAO specialists, allowing financing to be complemented by technical assistance in areas such as agricultural and livestock production, sustainability, agricultural technologies, and investment structuring.
The agreement comes as the Dominican Republic has made significant progress in food security. According to the FAO, the country reduced the prevalence of undernourishment to below 2.5% in July 2026, placing it below the threshold used by the organization to determine whether a country remains on the Hunger Map.
Under the agreement, Banreservas will provide financing, the Ministry of Agriculture will align investments with national agricultural priorities, and the FAO will contribute its technical expertise and international experience.
Potential projects include precision agriculture, productive infrastructure, efficient water management, renewable energy, food-loss reduction, value-chain development, and other technologies designed to improve competitiveness and efficiency.
The mechanism may also support proposals addressing challenges facing Dominican agriculture, including labor shortages, climate-related risks, and the need to increase productivity.
Agriculture Minister Francisco Oliverio Espaillat Bencosme welcomed the agreement, describing it as a concrete step toward accelerating the modernization and mechanization of Dominican agriculture. He said improved access to technology, financing, training, and technical assistance can help producers increase output, reduce costs, and respond to labor shortages.
“We are building a more modern, productive, profitable and competitive agriculture,” Espaillat Bencosme said, adding that greater access to technology will also contribute to the country’s food security.
The financing mechanism will initially have approximately RD$1.18 billion available, with the possibility of expanding it to support additional investments in the agri-food sector.
The partnership is aligned with the FAO’s Four Betters framework: better production, better nutrition, a better environment, and a better life.
Through the initiative, the three institutions aim to strengthen the Dominican Republic’s food-security gains by supporting a more modern, productive, efficient, and sustainable agricultural sector.
