Posted on October, 2, 2018 at 09:08 am
THE sole Tanzania Agricultural Development Bank (TADB) has pledged to raise income of smallholder farmers through their cooperatives by providing affordable and concessional loans.
The loans would consequently enable them to afford the production cost of their agricultural requirements among others.
Speaking here over the weekend during the Bank’s monitoring exercise in Mombo Comparative Irrigation Scheme, the acting managing director of TADB, Japhet Justine said his bank was committed in facilitating the smallholder farmers in the country and support them with capital as part of implementation of Agriculture Sector Development Programme Phase Two (ASDP 2).
Justine added that TADB was determined to shape and assist the government's efforts to bring about economic growth and poverty reduction in Tanzania through promoting and supporting transformation of agriculture from subsistence to commercial undertaking to effectively and sustainably contribute to economic growth and poverty reduction.
“Our goal is to make sure that we improve the farmers income through your comparatives as a result you can use a living standard for your families as it is directed by various government initiatives and programs,” Justine said, noting that TADB would add another loan facility to enable the scheme buy paddy processing machine in order to increase productivity
He said the bank would ensure that the comparative continues to reach the whole value chain approach by producing Mombo Rice brand towards reaching the final consumers contrary to selling of paddy itself.
“We have heard your request for a paddy processing machine so that you can increase the value of your rice and eventually have a brand called Mombo Rice,” he added.
Speaking on behalf of cooperative farmers’ farmers, Sufian Mohamed commended the government through the Agrobank for providing a concessional loan loan that has benefited 429 members among them women stands 54 per cent.
Mohamed said loan that has improved the infrastructure henceforth has increased the production from 1.9 tonnes to six tonnes per hectare something that raised the individual farmer’s income.
According to Mohamed, a loan facility from TADB has promoted Mombo Irrigation Cooperative to develop a more stable area that cover over 220 hectares that are cultivated twice a year and thus increase their income through paddy cultivation.
“We truly thank the government through TADB for providing us with this loan which has definitely increased paddy production from 1.9 tonnes to 6 tonnes hectare subsequently raises the individual farmer’s income,” he said.
The Mombo Comparative Irrigation Scheme as of now benefited from a fertilizer loan, a quality seed loan with a tractor and combine harvester machine loan. Meanwhile, Agricultural Bank is at the final stage of providing a paddy processing machine increase scheme’s productivity.
Source: IPP Media