Armed Forces generals are being given privileged access to multi-million peso loans from the Armed Forces social security funds, says a report published in acento.com.do. Meanwhile, more than 1,000 small loans requested by lower-ranking officers have not been approved due to lack of funds. A ruling by the Armed Forces Social Security Institute (ISSFFAA) establishes a maximum of RD$600,000 for loans to generals with more than 20 years service, but investigative reporters found that several loans for millions have been granted. It mentions the case of Major General Antonio Alvarado, deputy minister and executive director of the ISSFFAA who granted himself a RD$3 million loan this year. It also reports that deputy minister Major General Martin Leonardo Medina Ogando also received a loan of RD$3 million this year. The loans are repaid in 60 monthly installments (five years) of RD$39,000 and 37,000 respectively, sums that are higher than the generals’ wages.
Meanwhile, around 1,000 loan requests that have already been approved for lower ranks have not been able to be disbursed for lack of funds.
As reported in Acento.com.do, Armed Forces Minister Admiral Sigfrido Pared Perez confirmed the approval of both loans and defended their authorization. He said that the Armed Forces Higher Council has the authority to approve this type of loans to officers who can prove they are needed and that they meet the requirements.
www.acento.com.do/index.php/news/108786/56/En-ISSFFAA-hay-cuartos-para-los-generales-no-para-sargentos-rasos-ni-cabos.html