Posted on October, 2, 2018 at 10:38 am
By Correspondent in Tanga
TANZANIA Agricultural Development Bank (TADB) has pledged to raise income of smallholder farmers through their cooperatives by providing them with affordable and concessional loans.
The loans will consequently enable them to meet production costs of their agricultural requirement, among other things.
Speaking in Tanga during TADB's inspection of Mombo Cooperative Irrigation Scheme, the bank's Acting Managing Director Japhet Justine said his facility was committed to facilitating smallholder farmers in the country and support them with capital as part of the implementation of the Agricultural Sector Development Programme Phase Two (ASDP 2).
Mr Justine added that TADB was determined to supporting the government's efforts to bring about economic growth and poverty reduction in Tanzania through transforming agriculture from subsistence into commercial undertaking.
"Our goal is to ensure we improve your incomes through cooperatives. As a result, you will improve your living standard for your families as directed by various government initiatives and programmes."
Mr Justine said TADB would issue another loan to enable the scheme to buy rice processing equipment to increase productivity.
He said the bank would ensure cooperatives flourished through a value chain approach by producing Mombo Rice brand.
"We have heard your request for rice processing equipment so that you may increase the value of your rice and eventually have a brand name called Mombo Rice," he added.
Speaking on behalf of the farmers, Mr Sufian Mohamed commended the government through TADB for providing a concessional loan that had benefited 429 members among them being women (54 per cent).
Mr Mohamed said the loan had improved infrastructure and increased production from 1.9 tonnes to six tonnes per hectare, which also had raised farmers' incomes.
According to Mr Mohamed, TADB's loan has promoted Mombo Irrigation Cooperative to develop a more stable area that covers 220 hectares and rice is cultivated twice a year.
"We thank the government through TADB for providing us with this loan, which has definitely increased paddy production from 1.9 tonnes to six tonnes per hectare subsequently raise the individual farmer's income," he said.
Mombo Cooperative Irrigation Scheme as of now has benefited from a fertiliser loan, a quality seed loan with a tractor and combine harvester machine loan. Meanwhile, TADB is at the final stage of providing a rice processing machine to increase the scheme's productivity.
Source: Daily News