Agriculture bank doles out Sh39bn to eight regions, Zanzibar

04Aug 2018
The Guardian Reporter
The Guardian
Agriculture bank doles out Sh39bn to eight regions, Zanzibar

THE Tanzania Agricultural Development Bank (TADB) paid out Sh39.3billion to Zanzibar and 8 mainland regions from 2016 up to the second quarter of this year, the bank’s acting Managing Director, Japhet Justine, announced in Dar es Salaam on Thursday.

Briefing some stakeholders on the bank’s focus areas in the last quarter of this year, the director said during the period under review Zanzibar received  a total of Sh6.5bn,  with the rest of the funds being distributed in Iringa, Morogoro, Tanga and five other regions on the mainland.

“The bank is making an in-depth review of its programmes to ensure it plays a dynamic role in implementing the agricultural sector development programme Phase II,” he said.

According to him, the move will ensure that agriculture becomes a truly driving force of industrialisation.

He said Kagera region received over Sh18bn, being the biggest beneficiary, followed by Mwanza, which received Sh6.6bn.

Other regions which received the funds are Morogoro (Sh.2.7bn), Iringa (Sh1.9bn), Songwe (Sh1bn), Manyara (Sh984m), Njombe (Sh582m), Tanga (Sh446m) and Arusha (Sh102m).

Justine explained that in 2016 Iringa, Morogoro and Tanga regions received over Sh4.9bn out of the total funds issued, which was Sh20.7bn.

The MD said the bank pays attention to the training of smallholder farmers, explaining that between the fourth quarter of 2015 and the second quarter of this year, the bank supported the training of 17,462 smallholder farmers. 

He said 58 per cent of the trainees were men, 25 per cent were women while 17 per cent were youths.

He said during the period under review the bank financed 68 projects and impacted 527,280 farmers and supported three irrigation schemes.

The MD also announced that the bank will participate fully in this year’s Nane Nane festivities, adding that focus will be in three zones, namely Simiyu, Dodoma and Mbeya.

“We will use these engagements to tap business solicitation from public and private firms which will present their services and activities during the exhibitions, which is where TADB intervention lies,” he said.

He added that the bank will use the exhibitions to learn on the spot about the farmers’ expectations, problems, challenges and answer their questions.

Nane Nane celebrations will be marked at the national level at Nyakabindi grounds in Bariadi district, Simiyu region.

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