THE Tanzania Agricultural Development Bank (TADB) was awarded here yesterday for strengthening the cooperative movement by giving strategic loans to primary societies and cooperative unions to a tune of 100bn/- during a one-year period.
Presenting the award, the Minister of State in the Prime Minister’s Office, Investment Ms Angellah Kairuki, said TADB had strategically increased funding of primary societies and unions, hereby strengthening Tanzania’s cooperative movement.
“Your contribution has ended problems and challenges which were in the past perceived to be impossible to overcome. This award is a gesture of appreciation for your efforts in strengthening our cooperative movement,” she said.
The minister also lauded the participation of the bank and other institutions in the Nane Nane Fair, saying their participation motivated members of the agricultural marketing cooperative societies and other smallholder farmers.
That motivation, she explained, encouraged members to take agricultural and fisheries sectors seriously as sources of employment and disposable income.
“Your participation in fairs of this nature is an encouragement to smallholders to sustain the projected reforms in agriculture and fisheries sectors. We need these reforms to strengthen our national industrialisation agenda,” she told her audience at Nyakabindi Fair Grounds in Bariadi District.
Contacted for comment in Dar es Salaam, the TADB Managing Director, Mr Japhet Justine, said their bank was implementing a focused strategy for contributing to national efforts to promote agricultural and industrial efficiency.
“In this strategy, we are working jointly with other banks. Our common objective is to ensure that farmers and other producers get working capital and other inputs on time,” he explained.
Nane Nane festivities are marked at national level in Simiyu Region, and in selected zones.