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At the same time, the bank plans to open area branches to expand its wings to hinterland regions to reduce geographic barriers to farmers and serve them further.
When it was launched, NALD's goal is to provide loans to more than 1,000,000 farmers over five years starting in 2016-17, in order to play an increasingly important role in the realization of his vision 2025.
Severine Ndaskoi said this during the presentation to the Minister of Finance and Planning, Mr. Philip Mpango, at the trade fair ongoing in Sabasaba, Dar es Salaam.
million. Mpango visited the institutions in his portfolio that participated in the two-week fair. "By opening branches in the areas, we will reach more farmers in their areas," he said, noting that for the 2016/17 fiscal year alone, the bank provided $ 11 billion in loans to them. . [19659002] Ndaskoi told the minister that since a week of the event, at least 30 farmers have applied for bank loans, saying that 20 of them had qualified and could get loans. loans from the bank
. "Farmers in rural areas need loans, but you are not there in the hinterland," he said.
Dr. Mpango explained that the government had established the bank with the intention of supporting farmers, asking it to make efforts to raise capital by itself instead of relying on government funds. -to date, to go hand in hand with the country's agenda to revolutionize agriculture for industrial development ", he directed the management of the bank.
During his tour in different agencies pavilions Under his leadership, Dr. Mpango asked each other's management to promise to pay dividends to the government.
This follows President John Magufuli's directive that parastatals and should operate on profit and provide dividends to the government so that it finances development projects.
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