CRDB BANK SLASHES AGRICULTURAL LOAN INTEREST RATES

The Minister for Agriculture, Japhet Hasunga (fourth right), cuts a ribbon to launch the agri-equipment loan that is jointly implemented by CRDB Bank, the lender in collaboration with ETC Agro, LoanAgro and Agricom, the suppliers of farm machines in Dar es Salaam recently, an initiative poised to benefit farmers by enabling them to get affordable loans for agricultural equipment including tractors, power tillers and harvesting machines. Fourth left is CRDB Bank Managing Director, Abdulmajid Nsekela, and third left is Agricom Managing Director, Angelina Ngalula. Extreme right is the Bank's Director of Retail Banking, Boma Raballa.

CRDB Bank has slashed agricultural loan interest rates and removed collateral for farming machines.

The Lender said that the rate dropped from 20 per cent to 18 per cent in a move aimed at empowering farmers to increase their capital base and expand their businesses.

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