Unveiling the bank’s investment and strategic plan before the Parliamentary Public Investment Committee (PIC) here on Wednesday, TADB Board Chairperson, Rosebud Kurwijila, said the bank is in dire need of capital to transform the country’s agricultural sector through loans to as many farmers as possible.
She said the bank is embarking on various initiatives to look for capital from other areas but with increasing demand, the government intervention is inevitable.
The Chairlady added that the bank wished to have all major agricultural projects in the country adequately financed through the bank to spur the government spearheaded industrial drive.
Ms Kurwijila told the committee that the bank has eight clusters whose ultimate goal is to reach a diverse of farmers’ needs across the country, with plans to introduce agricultural pack in each cluster. TADB acting Managing Director, Japhet Justine, said the bank presently serves small, medium and commercial farmers.
But for the commercial farmers, he said, loans are issued only after the applicants indicate clearly how the small scale farmers will benefit and be involved throughout the project period.
Mr Justine further said that the bank has started supporting farmers, especially coffee growers, in the Lake Zone through setting up warehouses for collection and sale of farm produce through auctioning.
He said the system has started paying-off, with farmers doubling their profit margin compared to the previous system.
“But, we do the intervention through the cooperatives and primary farmers associations, we think of applying the strategy to other areas as well,” Mr Justine explained, stressing that TADB always focuses on farmers’ growth and development.
PIC Chairman, Dr Raphael Chegeni, asked the bank to expand its services to other areas where farmers are in dire need of credit facilities. “I request you to look at the best strategy to start issuing loans to the district and municipal councils in the country,” Dr Chegeni advised.
Daily News
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