The administrator of the Agricultural Bank (Bagricola), Fernando Duranwelcomed the cancellation of the debt of DR$397 million what did the president do Louis Abinader to the country’s coffee growers.
He said that the measure constitutes a very important step in support of the recovery of national coffee production, which has been greatly diminished in recent times due to various natural factors and the little attention given to this sector by previous administrations,” he said. Duran.
“It is about condoning a financial burden with several years of maturity and accumulated interest, the result of a credit portfolio managed by Bagrícola, as part of a program executed by the Dominican Coffee Council (Codocafé)today Dominican Coffee Institute (Indocafe)with funds from an international loan which has already been paid by the Dominican State.
He stated that, at the same time, this decision by President Abinader shows the commitment of the head of state with national producers and all the sectors that work from dawn to dusk to create wealth in the countryside.
The state official expressed himself in that term on the occasion of the commemorative act of the National Coffee Day led by President Abinader, in the National Palace.
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He said that the release of this debt is a timely measure to continue giving impetus to the recovery of the coffee sector, which puts coffee producers in a position to access new loans with preferential rates and improve the profitability of their crops.
“We are working, taking firm steps, to help raise coffee production levels, together with INDOCAFE, the Department of agriculturethe private sector and coffee growers’ associations, for the incorporation of varieties resistant to coffee rustthe planting of hundreds of thousands of tasks that, for various reasons, are not planted and the rehabilitation of many farms which have been practically abandoned, “said Durán.
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He said that credits and technical assistance from Bagrícola are available to small and medium-sized producers so that farmers can apply best agricultural practices that contribute to raising the productivity of their farms, improving their income and consequently improving their living conditions, which is the focal point of the public policies executed by President Luis Abinader.
