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Dominican Rep: Banana producers ask for 400 million loan to improve competitiveness

The Dominican Association of Banana Producers asked the government for a new loan of 400 million dollars for the renewal of farms and to improve the competitiveness of the sector, to the same conditions before the storms Olga and Noel affected plantations nationwide.

The request was made at a meeting in the conference room of the Dominican Agribusiness Board (JAD) in Santo Domingo. The Minister of Agriculture Luis Ramon Rodriguez, Osmar Benitez JAD Executive Chairman, and Francis Wood Executive Director of the National Banana Policy participated.

As for ADOBANANO, the meeting counted with the presence of following members: the President of the organization Elso Jaquez, the Vice President Luis Bonilla, Consultant Elnio Duran, and the Executive Director of the organization, Maximo Jerez.

The entity that groups the banana producers requested that from the DR $ 2,000 million announced for capitalization of the BAGRICOLA, 400 million is allocated to the banana industry, but with the same conditions of the previous funding
due to the difficult situation in that sector.

According to reports, with the 400 million the success and sustainability of the investment would be ensured, giving priority to producers who are up to date with their commitments to BAGRICOLA and ADOBABANO.

In the meeting between the authorities and the banana sector, it was announced that the Minister of Agriculture and JAD will back up the request before President Danilo Medina. Besides this, additional funds to manage Inter-American Development Bank (IDB) were also proposed to complete the supplement funds (about 770.25 million pesos); with which the budget of the National Strategy of the Banana Industry would be completed, (which is about 4597.8 million).


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