Amarante Baret urges investigation into Banco Agrícola loan misuse

Santo Domingo.- Carlos Amarante Baret, leader of the “AVANCEMOS” movement, has called on President Luis Abinader to initiate a thorough investigation into the Banco Agrícola. He accused leaders and associates of the ruling Modern Revolutionary Party (PRM) of exploiting the bank’s lending policies for personal and political gain. According to Amarante, loan rules have been excessively loosened, allowing funds intended for agricultural development to be diverted and relocated to other financial institutions at favorable interest rates.

Amarante criticized this misuse of resources, emphasizing that it undermines Banco Agrícola’s mission to support agricultural producers and ensure national food security. He expressed concern that favoritism within the ruling party has prioritized political allies over farmers, distorting the institution’s purpose. “This festival of senseless and political loans must stop,” he urged, highlighting the detrimental impact on agricultural production.

In closing, Amarante warned President Abinader to safeguard his administration from those prioritizing personal gain over national interests. He stressed the need for immediate corrective action to restore the integrity of Banco Agrícola and its vital role in supporting the country’s agricultural sector.