The Presidency has announced government support for rabbit farming in the Dominican Republic. During a visit on Sunday, 22 March 2015, President Danilo Medina agreed to provide a low-interest loan to a rabbit farmers association in Laguna Salada in the northwestern province of Valverde to increase production. Medina encouraged the rabbit farmers to study by-products such as adult rabbit skin. He pointed out that the recovered pelt could be worth more than the meat. Medina announced that the government is looking into backing an initial factory that would work with rabbit skin in the southwestern province of San Cristobal.
During the visit, it was agreed that funds would also be provided to local producers to breed freshwater fish and another loan was announced for the construction of a banana-packing factory.
President Medina made his usual reminder that these loans must be repaid. The loans are an attractive alternative to the financing from loan sharks who charge interest of 20% a month, which is 240% a year. On the subject of loans, President Medina said that it was difficult to borrow money from official sources and so he understood why many people had to use the informal market. He mentioned the high interest rates that meant that no one could repay the loans and make a profit. He said this was why he was making direct contact with farmers for these formal loans at a rate of 0.41% rather than 20% per month.
The agricultural associations that will benefit are the Jaibon Progressive Farmers’ Association (ASOPRAJO) and the Laguna Salada Agricultural Producers’ Association (ASOPROPELASA), which raise rabbits.
Loans were also approved for the Laguna Salada Development Association that breeds fish in ponds and the Jaibon and Laguna Salada Banana Growers’ Association (ABAPAJALSA), which is seeking help for building a warehouse so that they can export without the need for intermediaries.
During his visit, President Medina also met with 400 members of four producers’ associations.
http://presidencia.gob.do/noticias/danilo-medina-apoya-con-credito-crianza-peces-y-conejos-y-bananeros-en-valverde