The President of the Republic, Luis Abinader, announced this Thursday the creation of 72 new cooperatives at the national level, through multiple decrees.
“Luis Abinader Corona, signed this Thursday the decrees numbers 242-21, 243-21, 244-21, 245-21, 246-21 and 247-21, contentives of the incorporation of 72 new cooperatives in all the national territory” , read the statement from the Presidency.
In this document, the Presidency also stated that the aim of this decree is to encourage economic development in areas linked to productive activity in the country.
The cooperatives incorporated in the decrees represent a wide variety of commercial and productive activities, such as farming, transportation, banana and fruit growers, multiple services, savings and credit, production and jobs, among others.
According to the statement, cooperatives are associations of people who voluntarily join together to form an organization that manages financial funds, in accordance with a prior agreement between their members.
These entities serve to assist their members in the framework of their social, economic and cultural aspirations.
The Dominican State has been involved in the proper management of cooperatives through the Cooperative Development and Credit Institute (Idecoop) since 1963.