PMO doles out 22bn/- in loans to farmers

   
MORE than 22bn/- has been dished out by the government to the Tanzania Agricultural Development Bank (TADB) as‘guarantee funds’ to farmers through the Market Infrastructure, Value Addition and Rural Finance (MIVARF) initiative.

The issuance of the funds in credit facilities would be made to farmers by TADB in partnership with commercial banks where the farmers operate, according to the Deputy Minister in the Prime Minister’s Office, Mr Anthony Mavunde.

Mr Mavunde made the revelation in the National Assembly when responding to a basic question by Special Seats MP, Ms Asha Mshimba Jecha (CCM), who had wanted to know if the government had plans in space to boost farmers with additional loans through MIVARF.

“The Prime Minister’s Office in collaboration with the Ministry of Finance and TADB signed an agreement for operating guarantee funds.“Through the agreement, the government has dished out 22bn/- to TADB.

The bank has already placed an advert to invite interesting commercial banks which will jointly operate the funding,” Mr Mavunde explained. The Deputy Minister said the government has been undertaking training for farmers through MIVARF to enable them have access to reliable markets for their produce.

Mr Mavunde said the training include good agricultural practices, value addition of farm produce and strengthening of Savings and Credit Cooperative Societies (SACCCOS) through professional business coaches.