TADB is implementing President John Magufuli's directive wanting the bank to directly reach out to farmers as a way of boosting agriculture in Tanzania.
Speaking to farmers in question after handing over the cheque here recently, the Bank’s Director of Finance, Derick Lugemala said TADB has already started to reach the farmers through commercial and cooperative banks on loan sureties the ultimate goal to support the growth and development of small farmers.
“Our role as TADB is to boost agriculture development by providing farmers with financial support that will enable them to invest in agriculture and become successful,” Lugemala explained.
In the same vein the bank has opened up zonal branches in Dar es Salaam, Dodoma, Mbeya and Mwanza with the major aim being to get closer to farmers.
“The government’s objective and commitment in achieving the middle economy and industrial base economy is vivid, to achieve such goals it is important that every institute plays its part and we have already opened up branches as a way of making it easy for farmers to access our services,” he said.
Earlier after receiving the cheque on behalf of TACOBA, the Tandahimba District Commissioner, Sebastian Waryuba thanked TADB for having extended services to farmers, saying that the move would contribute largely in the economic development growth.
“Now, farmers are seeing the importance of this Bank because the loan sureties in their banks give them access to loan to purchase farm inputs and this will result into increase in revenue collection in the district and elsewhere,” he said.
Zainabu Chivalavala, a peasant in the district in question thanked the Bank for the way in which it has brought about new hopes to farmers.
“We congratulate and thank our agricultural development bank in the way in which it has given us new hopes, now we are confident of efficient farming because we are sure of securing loans for purchasing farm inputs,” she said.
Chivalavala pointed out that the middle income and industrial economy goals were likely to be achieved by 2025 because the bank has been very supportive to farmers.
TADB has proved worthwhile and has positioned itself as the bank committed to transform agriculture and contribute dearly in government’s resolve of building medium income and industrial base economy by 2025. It has won hearts of stakeholders.