Tanzania: Govt - Tadb Has Unique Role in Growing Agriculture

THE government says the Tanzania Agricultural Development Bank (TADB) has a unique role in ensuring the agriculture sector grows and contribute to the economic growth.

The Deputy Minister for Finance and Planning Hamad Masauni said in Dar es Salaam yesterday that agriculture is given paramount importance in the Five Year Development Plan (FYDP III) because efficient agriculture will produce sufficient and quality raw materials for industries.

The Deputy Minister said the government is proud of the TADB for steady agriculture financing.

He explained that the bank started with a humble beginning, putting in the sector 30bn/- but has progressively increased lending to the tune of 300bn/- currently. "This is something to be proud of.

We find delight in your performance. As you know the government has its keen eye on this sector in the FYDP III. You are number one stakeholder in promoting this sector.

I am here to assure you of continued government support," he pledged. He said besides giving concessionary loans to farmers, the bank should simultaneously provide requisite lending education to the farming community.

The Chairman of the TADB Board of Directors, Mr Ishmael Andulile Kasekwa, said the board will ensure the bank remains faithful to the aims it was started for, adding that the TADB will be innovative and create friendly conditions for agricultural financing.

The TADB Managing Director, Mr Japhet Justine, vowed that the bank will do its utmost in promoting the agriculture, fisheries and livestock sectors.

"We shall continue to create conditions that are favorable to attracting farmers to borrow and repay loans and promote efficiency in the three sectors," he told the deputy minister.

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