Mpina lauds agro bank for issuing timely loans

06Aug 2020
The Guardian Reporter
Dar es Salaam
The Guardian
Mpina lauds agro bank for issuing timely loans

LIVESTOCK and Fisheries Minister, Luhaga Mpina, yesterday praised the Tanzania Agricultural Development Bank (TADB) for promoting efficient production in livestock and fisheries sectors by giving smallholders timely loans.

LIVESTOCK and Fisheries Minister, Luhaga Mpina

He told a review meeting of the performance of the two sectors, that the loans the bank gave to people employing themselves in the two sectors had changed their lives and were behind efficient production in the two sectors.

TADB works with other local banks in funding stakeholders in the two sectors.

The members were reviewing implementation of the objectives set during and performance of the two sectors since the last meeting that was held on August 10, 2018.

“I want to single out the TADB for its efforts towards promoting efficiency in the livestock and fisheries sectors.  Stakeholders in the two sectors are now getting the  working capital they need,” he told the meeting.

The minister said in the past the two sectors received little or no priority in all forms of facilitation despite the fact that the sectors touched lives of millions of Tanzanians.   He said he found a lot of consolation in the fact that the bank had worked so hard and had changed the situation drastically. “I hope and pray this trend will continue,” he told the meeting.

The TADB Managing Director, Japhet Justine, told the meeting that loan applicants had applied for a total of  85.5 billion/-, but only 27 billion had been approved by the bank, and that more applications were being processed.

He also explained that out of the 27 billion, 3.425 billion was awarded through the Smallholder Credit Guarantee Scheme (SCGS). The SCGS focuses on smallholder livestock keepers and fishermen who have problems in securing working capital.

 Justine called on eligible hardworking smallholders to apply for loans, saying the government was determined to help them make a good living.