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Since its establishment three years ago, the Tanzanian Agricultural Development Bank (TADB) has issued 45 billion loans to farmers by the 2017/18 fiscal year. .
Acting Director General of Seville Ndaskoi revealed it during his presentation to the Minister of Finance and Planning, Mr. Philip Mpango, at the ongoing international trade fair in Sabasaba, Dar es Salaam.
million. Mpango visited the institutions in his portfolio that were attending a two-week fair. "By opening area branches, we will reach more farmers in their areas," he said. Noting that for the 2016/17 fiscal year alone, the facility issued $ 11 billion in loans to farmers.
When it was launched, the AfDB set itself the goal of providing loans to more than 1,000,000 farmers in five years from 2016/17. to realize his vision 2025.
M. Ndaskoi told the minister that during the last week of the event at least 30 farmers applied for loans at the bank and 20 of them had qualified for them.
Farmers in rural areas need loans, but your bank does not have branches in the hinterland, "he said. </ P> <p> Dr Mpango said explained that the government had established a bank to support farmers, urging it to make efforts to raise capital by itself instead of relying on government funds.
"During this fiscal year, you must become new. He led the management of the bank during his tour of the agency pavilions under his ministry, Dr. Mpango told the management of each of them to promise when they
This follows the President John Magufuli's directive that government parastatal organizations should now make profits and pay dividends to the government to finance development projects.
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