Tanzania: Govt Issues More Than 905bn/ – Loans to Farmers, Enterprises

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By Jeremiah Sisya

STATE owned financial institutions-Agricultural Development Bank, TIB Corporate Bank and TPB Bank are planning to dish out at least 905.08bn/- loans to farmers and businesses across the country during the next financial year.

Minister of Finance and Planning Dr. Mwigulu Nchemba tabling the Ministry’s Budget estimates and expenditure in the National Assembly on Monday said Tanzania Agricultural Development Bank will provide a total of 203.5bn/- to small, medium and large scale farmers.

He said the monies will benefit farmers and business people involved in the distribution of agro-inputs, tools, production line and related traders for agriculture, livestock and fisheries products.

In addition, Dr. Nchemba said the government through TIB Corporate Bank will release some 54.58bn/- financial support to support industries, water projects, tourism, agriculture, education and local government infrastructure developments.

“During the next financial year, the state-owned TPB Bank will be implementing measures to improve its liquidity and offer at least 647bn/- worth loans to support businesses in the country,” he said.

Culled from the Tanzanian Daily news

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