Photo by Nicolas Gauthy, Max Havelaar France

Photo by Nicolas Gauthy, Max Havelaar France

The EU and Inter-American Development Bank have set up a fund of $60 million to boost the competitiveness of the banana sector in the Dominican Republic.

The fund was announced last week by Dominican foreign minister Carlos Morales Troncoso at a meeting with representatives from the country’s banana producers’ association Adobanano.

This new fund is in addition to $25m 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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