Government has RD $ 1,000 million loans at zero rate for coffee producers

The Government promised this Friday to finance the coffee sector at zero rate with RD $ 1,000 million to be taken from the RD $ 5,000 million for loans from Banco Agrícola to relaunch Dominican agriculture, which has been affected by COVID-19.

“It is in our Government’s interest to recover and bring the coffee from the Dominican Republic to the best levels. Coffee productions, with their small producers, interact in the community, with a more democratic impact and with greater economic and social justice than other agricultural products, that is why we are committed ”, said the president Luis Abinader at the head of the opening ceremony of this year’s coffee harvest.

The meeting was held at the facilities of the Center for the Reproduction of new varieties of coffee from Industrias Banilejas (Induban) in Rancho Arriba, San José de Ocoa, where Abinader commented that by the end of January, the country must have a plan that will have a critical route of action and with concrete provisions and that will be executed through public-private partnership.

“Starting today we will achieve the objectives to develop a large part of the Dominican countryside. We are going to work together and change coffee production to benefit thousands of Dominican producers ”, added Abinader.

In the activity, the executive president of Induban, Manuel Pozo Perelló, showed Abinader the new varieties of coffee introduced to the country by the company that have already passed the adaptation and testing stage and have proven to be reliable for planting in different areas.

The new varieties are Obatá, Tupí, CR-95, RA 15, Acawá, Lapar59, Marsellesa and Lempira, with which it is intended to recover the Dominican coffee growing.

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Abinader listened to the explanations of Carlos Fonseca, technical manager of the Costa Rican Coffee Institute, and Laura Esquivel, a coffee specialist consultant, who played a leading role in the recovery process of coffee growing in the Central American region and were hired by Induban to provide support to the Dominican government and promote the development of the coffee industry in the country.


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