TADB sees significant increase in food production from its 1.55tri/- funding to farmers

DODOMA: THE Tanzania Agricultural Development Bank (TADB) says loans amounting to 1.55tri/- disbursed to farmers between 2021 and 2025 have significantly increased food production, strengthening the country’s food security and creating opportunities for agricultural exports.

TADB Managing Director, Mr Frank Nyabundege, said the financing had contributed to an increase in food crop production from 17.1 million tonnes to 22.8 million tonnes during the period.

He said the rise in production has enabled Tanzania to surpass its domestic food requirements by 30 per cent, creating a surplus that can be exported to neighbouring countries.

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Mr Nyabundege made the remarks in Dodoma while outlining the bank’s performance since its establishment in 2015 and presenting its strategic plans in support of the implementation of Tanzania’s Development Vision 2050.

He said TADB remains committed to supporting the agricultural sector by expanding access to affordable financing for farmers, with the aim of increasing productivity, promoting commercial agriculture and enhancing the sector’s contribution to economic growth.

According to Mr Nyabundege, the bank will continue working with farmers and other stakeholders to improve agricultural value chains, strengthen food security and accelerate the transformation of agriculture into a competitive and commercially driven sector.