Johannesburg, South Africa (ADV) – The Tanzanian Vice President, Samia Hassan, has applauded the Tanzanian Agriculture Development Bank (TADB) for supporting smallholder farmers in challenges that hinders their production.
Hassan was speaking at the Itigi Township in Manyoni District, where she handed over a 1.285 billion dummy cheque of a loan issued by TADB to seven Agricultural Marketing Co-Operative Societies (AMCOS) that deal with sunflower production in Singida.
“I ask you to use the loan according to the terms entered and make timely repayment to enable other farmers in the country to get the loans to boost agricultural production in the country,” she urged the farmers.
Singida Regional Commissioner Dr Rehema Nchimbi said the issued loans would be used to buy raw materials for 144 processing industries.
“We are thankful to TADB for issuing this loan to these seven AMCOS that will increase the productivity of sunflower in the region and ultimately contribute to availability of our processors’ raw materials,” she said.
Augustino Chacha who represented TADB acknowledge sunflower as one of the most strategic crops for the national economy and especially for the highly productive regions, including Singida.
TADB is a Government Institution which was established under the Companies Act, 2002 and licensed under the provisions of the Banking and Financial Institutions Act No 5 of 2006 and the Banking and Financial Institutions (Development Finance) Regulations, 2012.
The bank was established for the following purposes, too catalyse credit delivery to the agricultural sector and thereby accelerate agricultural development and overall economic growth, among others.
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