The administrator of the Agricultural Bank (Bagricola), Fernando Durán, assured that “the people who talk about the fact that the field is abandoned are the same ones who broke 23 rice factories owned by the agrarian reform farmers.”
Durán came out in front of those who question the scope of the loan program implemented by that institution and suggested that they check how more than 12,000 agricultural producers have been capitalized thanks to zero-rate financing.
He assured that the financial support of the Government has been essential to guarantee the production and food security of the country, at a time when the agricultural sector was decapitalized due to the Coronavirus pandemic. He suggested to those critics that they ask the 120 members of the Coopagro agricultural cooperative if they did not receive RD$100 million at zero rate, and if the Los Arroceros Multiple Services Cooperative (Coopearroz), also in La Vega, received RD$150 million. .
“Or ask the banana producers of Mao and Montecristi if a large part of their debt has not been rescheduled at a zero rate,” he said.
Durán spoke at the opening ceremony of the agricultural supplies store of the Juan Mejía Boyá Agricultural and Services Cooperative (Coopaserbo), installed with financing from Bagrícola in the Ranchito municipal district, La Vega province.
“Where were those who speak of abandonment when the Price Stabilization Institute (Inespre) was converted into an institution without functions, which spent billions of pesos on salaries, without making any contribution to the producer, much less to the consumer?” , he asked himself. He assured that Inespre’s ineffectiveness left small producers at the mercy of intermediaries and informal lenders.
He stated that, last year, the Bagrícola formalized loans for RD$31,058 million that benefited 26,232 producers.
