Africa-Press – Tanzania. TANZANIA Agricultural Development Bank (TADB) has so far released a total of 160bn/- in loans to Co-operative Unions and Agriculture Marketing Co-operative Society (AMCOS) as strategic partners enabling them transform their services.
The loans benefitted 141 AMCOS and seven co-operative unions in which 22.03bn/- went to AMCOS, 127.60bn/-for co-operative unions while 10.96bn/- was released by the bank through Smallholder Farmers Credit Guarantee Scheme (SCGS).
“The loans meant a lot for transformation of agriculture and value addition to crops production,” a statement availed here by TADB shows, adding that Cooperatives and AMCOS were strategic partners in transforming agriculture.
Speaking to journalists at the International Day of Cooperatives which was celebrated here at the national level over the weekend, Chairman of Chato Co-operative Union (CCU), Mr Deogratius Didi commended TADB for reviving cotton growing spirit in the lake zone.
“Since the bank started operations I can confidently speak that we, cotton growers, through our cooperatives have benefitted a lot through loans. Farmers are assured of reliable market for their produce and timely delivery of farm inputs,” Mr Didi said.
He said the bank has been empowering Cooperatives so that they run their services more professionally and meet the farmers’ expectations.
“The strong stability of CCU was a result of a loan from TADB. To us, we consider this bank as a saviour of our Cooperative unions and AMCOS,” Mr Didi said, praising this year’s celebrations, saying more financial institutions were present to market their services.
TADB has played a bigger role in transforming Cooperatives.
The transformation made by TADB has made major interventions in coffee, fish and cotton projects in Lake Zone, paddy, dairy and sisal project in eastern zone, sesame project in Tunduru and maize projects southern highland and sunflower projects in Central zone.
