Abinador leads the La Semanal meeting every Monday.
Santo Domingo.- President Luis Abinader announced this Monday the availability of 3,000 million pesos, which the government will lend to the construction and agricultural sectors with a mechanization program aimed at reducing dependence on workers.
Speaking at the “La Semenal con la Prensa” meeting at the National Palace, he said that the resources would be available through the Development and Export Bank (PANDEX).
“The aim is to make national production more efficient by reducing the need for cheap labor and foreign workers,” the president said.
The project, he said, will help finance the aforementioned sectors, which have mostly Haitian workers.
Abinador recently warned that foreign labor in the Dominican Republic “has its days numbered.”
Loans at 9.5% rate
“We already have 3,000 million pesos in the company,” said Pantex general manager Juan Mustafa Michel, who pointed out that the interest rate on the loans will be 9.5% with a grace period of up to six months.
He said the process could be carried out through the Agribusiness Board and other relevant institutions.
In another order, he said the company went from 100 million to almost 7,000 million and from 7,000 assets to almost 20,000 million.