CAMAGUEY, Cuba, Dec 2 (ACN) As part of the new measures taken in Cuba since September, the Agricultural Development Bank is contributing to boost rice and other productions in the province of Camagüey, by granting credits amounting to more than 68 million pesos.
“The province had received seven loans worth 69,411,345 pesos until late November, including one to promote bean production and two to benefit cattle breeding,” Yosbel Pouza Padrón, head of the Agricultural Banking Department at the Division of the Bank of Credit and Commerce (BANDEC), told ACN. “Another two loans are being processed, in this case for banana and rice production”.
Cuba has allocated 1.8 billion pesos for the Agricultural Development Bank to increase pork, beef, rice, plantain, guava, and yucca production, among other crops.
In line with the 63 measures to encourage food production, the Agricultural Development Bank also defrays some expenses derived from the purchase of fertilizers and fuel and covers the farmers' salaries.
Nadia Márquez Capón, head of the Economics Division of the Provincial Delegation of Agriculture, pointed out that they are working with and assisting about 110 producers.
“With another 12 loan requests already made for cattle breeding, the province will have received 100 million pesos in credits by the end of the year,” she said.
Cuban banks, insurance agents and municipal agricultural authorities participate in these funding programs.