Uncategorized September 15, 2020 | 10:23 am

Dominican Gov. has US$84.7M in no-interest loans for farmers

Santo Domingo.- Dominican Republic’s State Agro Bank already has 25% of the RD$5.0 billion (US$84.7 million) that the Government will lend at zero rate to small, medium and large producers in the country’s interior to finance the reactivation of the sector and counteract the pandemic’s effects.

On Monday Agro Bank administrator Fernando Durán, and Agriculture Minister, Limber Cruz, presented the regulations by which this initiative will be governed, which was announced on August 16 by President Luis Abinader in his inaugural speech.

The loans, which Dominican producers began to access yesterday, “will serve to promote the planting of crops that contribute to national food security, finance and support investment in agriculture automation projects and for initiatives that generate jobs and foreign exchange, promoting exports,” Durán said in a press conference.

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