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PASS guarantee enables 1.7  million farmers to get loan

PASS guarantee enables 1.7 million farmers to get loan

SOME 1.7 million small entrepreneurs engaged in the agricultural sector have benefited from a loan guarantee of Private Agricultural Sector Support Trust (PASS). PASS Western Zonal Manager, Ayubu Mbezi, said that since its established two decades ago has dished out so far some 1.4tri/- to these farmers equivalent to 7.0 per cent of all loans provided by banks in the agricultural sector.

The PASS Western Zonal Manager said that 532,798 businesses related to agricultural products and agricultural services have been secured by securing loan and development services from PASS.

Explaining the implementation of PASS activities since 2008 when it started its operations in Kigoma region, Mbezi said that they have been able to reach a total of 9400 farmers, where this year alone they have managed to reach 12 AMCOS by providing them with a guarantee that enabled them to secure a loan of 4.5bn/- from commercial banks.

Tanzania Agricultural Development Bank (TADB), Western Zonal Manager, Andrew Ezekiel said PASS guarantees has brought great success to farmers in the region.

Mr Ezekiel said that one of the major tasks that has been done so far is to enable other banking institutions to provide loans to farmers where a total of 15 banks have entered into an agreement with TADB and the bank has provided 130bn/- to provide loans to smallholder farmers and that PASS guarantee in most part assist to complete the process.

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Author: FADHILI ABDALLAH in Kigoma

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