Dominican Republic launches RD$1,180 million agricultural modernization fund

Banreservas, the Food and Agriculture Organization (FAO), and the Dominican Republic Ministry of Agriculture have signed an agreement to implement a financing mechanism of approximately RD$1,180 million (US$20 million). The initiative aims to modernize the Dominican agricultural sector through mechanization, the adoption of new technologies, efficient water management, and climate change adaptation.

The funding will support projects such as precision agriculture, renewable energy, and the strengthening of value chains. In addition to financial resources, the FAO will provide technical expertise through national and international specialists to assist in the evaluation and design of production projects.

Parallel efforts to strengthen the sector include a RD$23.7 million investment by the Ministry of Agriculture and UNPHU to train 30 agronomy professionals. Other institutional discussions emphasize the need to align technical education with market demands to address shortages in specialized areas like soil science, irrigation, and biotechnology.