The Bank of Reserves, will grant loans of until RD$ 3.000 million for the financing of rice harvest 2007-2008. The amount has increased in 1,000 million RD$ in relation to last year.
The rate that will be applied will be of a 11%, equivalent to less of a 1% by month. The credits are granted to millers who make them arrive to rice farmers. The general administrator of Bank of Reserves emphasized that rice represents a 40% of the farming GIP of the country and is the product more consumed by Dominican families.
The Program of Rice Pledge, benefit to many families living on farming this cereal. Last year the Dominican Republic was self-sufficient in rice production, with a yield of 10,5 million cwt. The harvest is expected to reach 11 million cwt next year.
1 USD = 32.1045 DOP
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