THE Minister for Livestock and Fisheries, Mr Luhanga Mpina, yesterday applauded the Tanzania Agricultural Development Bank (TADB) for promoting efficient production in livestock and fisheries sectors by giving smallholders timely loans.
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 agreed objectives and the performance of the two sectors since the last meeting that was held on August 10, 2018.
“I want to single out 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 that 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.
According to the Minister, 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.
TADB Managing Director, Mr Japhet Justine, told the meeting that loan applicants had applied for a total of 85.5 bn/-, but so far only 27bn/- had been approved by the bank, and that more applications were being processed.
He also explained that out of the 27bn/-, at least 3.425bn/- was awarded through the Smallholder Credit Guarantee Scheme (SCGS).
The SCGS focuses on smallholder livestock keepers and fishermen who ordinarily have problems in securing working capital.
Mr Justine called on eligible hardworking smallholder workers to apply for loans, saying the government was determined to help them make a good living.