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TADB Bank provides 281bn/- in loans to boost agricultural projects

TADB Bank provides 281bn/- in loans to boost agricultural projects

Tanzania Agricultural Development Bank (TADB) has already issued a total of 281.74bn/- loans aimed at boosting agricultural, fishing and poultry projects in the country.

This was revealed at the Parliament in Dodoma on Wednesday by the Minister Finance and Planning, Dr Mwigulu Nchemba when he was reacting to Tabora North MP Athumani Maige, who wanted to know how far TADB Bank has supported small scale farmers.

Responding to the MP, the Finance Minister said a total of 1,514,695 farmers and their respective 151 associations have accessed the TADB loans.

Elaborating on the matter, Dr Mwigulu said TADB is administering the Smallholder Credit Guarantee Scheme (SCGS) which was initiated to push other banks to increase loans to the agricultural sector.

Until June 2021, he said, the lending institution had already issued an 89.92bn/- loan guarantee to 11,244 smallholders, 181 farmers associations and 43 SMEs.

https://www.apps.tsn.go.tz/public/uploads/8fdca065b725b70473c14b9d7ff9baef.jpg

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Mwandishi: DAILYNEWS REPORTER

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