Posted on February, 1, 2019 at 08:31 am
THE Tanzania Agricultural Development Bank (TADB) said in a statutory public statement that in the last quarter of last year, it paid out a total of 223.8bn/- in support of agricultural projects, up from 17.1bn/- disbursed in the quarter that ended on September 30, 2018.
A statement issued in Dar es Salaam yesterday and signed by the chairman Rosebud Violet Kurwijila and Managing Director Japhet Justine on January 30, 2019, says some 521,717 smallholder farmers benefited from the agricultural loans offered by the bank.
According to the statement, issued pursuant to regulations 7 and 8 of the Banking and Financial Institutions (Disclosures) Regulations, 2014, some 1.64bn/- was offered in form of smallholder farmers’ loans through the Special Credit Guarantee Scheme (SCGS) and that 814
smallholder farmers from the scheme.
The statement says seven new agricultural projects were financed during the period under review, and that five new regions benefited from the bank’s financing in this quarter.
The statement also says that 862 smallholder farmers were trained during the period.
According to the statement workforce grew too. As of September 30, 2018 the bank had 44 workers but as of December 31, 2018 the workforce had grown to 72 workers.
The last quarter also saw the bank winning confidence of its stakeholders for being working closely and listening them and act swiftly according to their needs.
Source: IPP Media