SANTO DOMINGO.- The Agriculture Bank (Bagricola) will sell its main office building located on George Washington avenue (Malecon) and several of its farms to capitalize the entity, said its administrator Paíno Abreu.

He said the building is on a lot of 18,000 square meters, worth around RD$1 billion.

Just in the East region Bagricola has a 45,000 tareas (more than 28 million square meters) of land suitable for tourism activities, Abreu said, adding that a commission has been designated to put all those goods on sale. “‘The tourism investment in the zone now makes it a gold mine.”

He said although many farms Bagricola owns in Cotuí and Maimón (central) have squatters on them, “the bank has reached agreements with those people to solve that problem before yearend.”

The official said the income from the many assets Bagricola can sell would provide funding to support the farming production.