Santo Domingo.- The Dominican Agro Board (JAD) is demanding that the monetary authorities create a fund in the Central Bank to cover credit risk, aimed at spurring more money for production.

JAD president Felix Alberto Rojas spoke during a meeting with 55 agribusiness leaders held in the processing plant of the Compañía Agropecuaria Santo Domingo, where they presented the sector’s technical and productive advances in the raising of beef cattle.

He said the sector requires more flexible bank norms to help capitalize the countryside, which requires a fund to cover the credit risk for farms nationwide.

Rojas also hailed Internal Taxes norm 03-10, which extends the exemption to pay the advance Tax on Income for one year. He said the measure is favorable for farmers by making it easier to capitalize their productive operations.

The agro leader however stated his concern with the risk which in his view affects the export of vegetables, mangos and bananas to the European Union, from the detection of residues of pesticides above the levels the international standards allow.

He suggested that the Government define a strategy and not try to solve it with a simple resolution which regulates pesticide imports.

The JAD president also revealed that there are several hurdles to export Dominican meats to the United States, noting that whenever a new inspector arrives from that nation, they change the rules and create delays against the country.