The European Union and Inter-American Development Bank have set up a fund of US$60m (€47m) to boost the competitiveness of the banana sector in the Dominican Republic.
The fund was announced last week by Dominicanforeign minister Carlos Morales Troncoso at a meeting with representatives from the country’s banana producers’ association Adobanano.
This new fund is in addition to US$25m (€19.6m) assigned to the sector by the EU recently. The Dominican Republic is the third largest exporter of bananas to the EU.
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