CABEI promotes strengthening program for the agricultural sector with a technological and sustainable focus through BAGRICOLA
Santo Domingo, June 13, 2023.- Through the Dominican Republic Government, Banco Agrícola seeks to strengthen the fulfillment of its institutional mission to support the Dominican agricultural sector through the development of a green line program aimed at the Bank's target client base, with the support of the Central American Bank for Economic Integration (CABEI).
The purpose of the funds is to achieve the objectives of the "Plan Estratégico Sectorial Agropecuario de la República Dominicana 2020/2030" (2020/2030 Dominican Republic Strategic Agricultural Sector Plan), through credit facilities and technical assistance. The technical assistance combines credit with training, loans are granted to economically weak agricultural entrepreneurs, subject to agricultural extension, in order to introduce lasting improvements and rational practices on the property and at home.
While the loan is in force, the farmer receives periodic and systemic technical assistance, provided by the extension agency's specialists. The aim is to help the farmer carry out everything that was planned.
Investment in these sectors involves modernizing and strengthening the agricultural sector; increasing the supply of food of agricultural and livestock origin, raising productivity and diversifying production; increasing the competitiveness of the sector and the profitability of producers; and developing infrastructure and services in rural areas, with a territorial approach.
This program’s investment amounts to a total of 60 million dollars, equivalent to more than 3.3 billion pesos.
It is important to highlight that technical assistance will be provided to producers, which guarantees the longevity of production and yield of the items, hoping to increase current productivity and will provide the best practices for the development of their processes by development agents of the Bank and/or the Ministry of Agriculture, previously trained in the technification of each item.
