IN a bid to boost industrial development, TIB Corporate Bank has expressed its commitment in providing capital for establishment of industries in the country.
The Bank’s Director General, Mr Frank Nyabundege said recently that his office was doing everything in its power to ensure there is establishment and development of industries in the country.
Mr Nyabundege was speaking during the business forum, which took place in Bariadi District, Simiyu Region. He called upon traders who wish to invest in various areas including preparation and production of products’ packing materials to consult his office for financial support.
“Those who are committed to do business by establishing industries, companies and other legal and profitable businesses are invited to seek financial assistance from TIB corporate bank,” he said.
According to Mr Nyabundege the bank has already provided 58bn/- to Simiyu region and that they expect to increase the budget in the coming fiscal year, which starts in July, 2017.
So far Simiyu region has managed to establish industries such as Meatu Milk industry, Maswa chalk industry, cotton ginning and spinning industries and many others.
“We are offering capital to those who wish to open industries, I am therefore inviting whoever wants to establish industry to come and get the loan,” he said