THE Tanzania Agricultural Development Bank (TADB) has provided a total of 147.02bn/- to 1,049,370 beneficiaries or different agriculture-based projects since 2015.
The bank’s business development officer Mr Furaha Sichula told the ‘Daily News’ during an interview at the ongoing Coast Regional Business Forum that the bank has been able to reach out farmers and other stakeholders in different parts of the country.
He said many projects that are supported by TADB aim at assisting farmers to move from subsistence farming to commercial farming, which is crucial in building up an industrial economy and ensuring food security in the country.
“We have been able to provide loans to various Tanzanians.
A total of 314,811 beneficiaries are women, and this is 30 per cent of the total money provided.
On the other hand, he pointed out that the Bank through loans has facilitated the establishment of 12 food processing factories which purchase crops from 1,190 farmers.