Africa-Press – Tanzania. THE Minister of State President’s Office (Labour, Economy, and Investments) Mr Mudrik Ramadhan Soraga, yesterday told the House of Representatives that the government currently verifies groups and associations of small traders and entrepreneurs before releasing loans.
“The money is available and it will be managed by the CRDB bank. But we need first to identify and verify groups to find out those who qualify for the soft loan,” said Soraga when answering questions from backbenchers led by Mr Shaib Hassan Kaduara (CCM Chakechake).
The MPs sought to know why there have been delays in giving out the money.
The legislators asked to know when the small traders and entrepreneurs who have formed groups or associations will start benefiting from the loans following the promise by President Hussein Ali Mwinyi to support almost all the petty traders and young people, women and people with disabilities engaged in entrepreneurship.
The minister said 81bn/-, a portion of the money from the IMF Covid-19 package to Zanzibar, has been allocated for the program which also includes improving infrastructures that will enable growth of their businesses to contribute to the economy.
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