Africa-Press – Tanzania. THE Tanzania Agricultural Development Bank (TADB) has disbursed 631.18bn/- in loans, financing 151 projects nationwide since its establishment slightly over a decade ago.
TADB Lake Zone Manager, Mr Alphonce Mokoki, said the bank, established in 2011 and operational since 2015, has strengthened its key role as an agricultural lender in promoting the development of the sector, particularly strategic crops.
Since our establishment, TADB has financed numerous projects nationwide, reinforcing our key role in developing the agriculture sector, particularly strategic crops,” Mr Mokoki said during a two-day journalists’ workshop organised by the bank recently in Mwanza.
In the cotton subsector, he said, TADB has supported the revival of four ginneries owned by cooperative societies, disbursing a total of 171.58bn/- in loans through these cooperatives as of October this year.
In the coffee subsector, the bank has facilitated market access by disbursing 331.63bn/- to boost production and value addition, an intervention that has seen the price of coffee beans rise from 1,200/- to 5,000/- per kilogramme.
On rice production, the bank financed the expansion of storage infrastructure, the acquisition of milling and drying equipment and extended loans totalling 55.89bn/- to farmer groups engaged in rice farming.
Addressing efforts to strengthen the blue economy, cage fish farmers have received loans worth 12.4bn/- across 120 groups, benefitting 1,904 people, including youth and women.
“Through this initiative,” Mr Mokoki said “the bank has also financed the production of improved tilapia fingerlings via hatcheries, easing access to quality stock”.
The Lake Zone Manager said that in Mwanza region alone, TADB has disbursed 79.14bn/- to support 61 projects.
On modern livestock farming, by September this year, the bank had disbursed 30bn/- in the Lake Zone, supporting poultry projects for meat and egg production, access to improved breeds and milk production through integrated projects linking farmers with dairy processors.
Officiating the workshop, Mwanza Regional Commissioner Mr Said Mtanda urged youth to seize these opportunities to improve their economic standing and advance to higher levels.
“There are also many opportunities provided by the government, take full advantage,” he said.
