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El Bagrícola will lend RD$100 million at a zero rate to meat, egg and milk producers at the Agricultural Fair

El Bagrícola prestará RD$100 millones a tasa cero a productores de carne, huevo y leche en Feria Agropecuaria 

The Agricultural Bank (Bagricola) will finance the purchase of animals and agricultural equipment with special rates during the National Agricultural Fair 2022, which will be inaugurated this Friday.

The financial institution said that it has RD$100 million to lend at zero rate to producers of meat, milk and eggs.

Fernando Durán, administrator of that financial entity, indicated that producers of other agricultural items will be favored with loans with an annual interest of 6%, 4 points lower than in previous fairs, which was 10%.

Durán said that the resources are available for agricultural producers interested in buying animals, equipment, machinery and technologies, during the fair, which will last until the 27th of this month, in the Ciudad Ganadera, in the capital.

“The Central Government made available RD$100 million at zero interest rate, mainly for the livestock sector,” he explained.

The state official stated that 60 entrepreneurs will be exhibiting their products at the Bagríacola stand and farmers with mortgage guarantees will be able to receive loans of up to 90 percent of the cost of machinery and equipment.

Those with pledge guarantees will be financed up to 80% of the cost of the equipment, during the activity organized by the National Cattlemen’s Board.

Disbursements will be made by order letter, payable within 30 days.the official said, stating that the measure was approved by the lender’s executive board.

He explained that “we are going to have at the fair an exhibition of some of the foods whose producers are financed by Bagrícola.”

The Bagrícola stand will be open from 9:00 in the morning until 9:00 at night, with a highly qualified staff to meet the loan requirements of the producers, details an institutional note.

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