State-owned development finance institution (DFI) established to catalyze the development of agriculture sector in Tanzania
WE ARE FARMERS BANK
The key role of the bank is to be a catalyst for delivery of short, medium and long- term credit facilities for the development of agriculture in Tanzania. Its establishment is among the key initiatives and national goals enshrined in the Vision 2025 to achieve food self-sufficiency and food security,economic development and poverty reduction.
The Banks as a key stakeholder in the development and envisaged revolution of the agricultural sector, it is committed to delivering on undertakings made in the context of the national agriculture related strategies consistent with its Vision, Mission and Objectives. Further the bank was tasked with implementation of the Government’s Second-Generation Financial Sector Reforms, the national policies and strategies for the development of the agricultural sector.
Officially Launched & received TZS 60 billion capital
Launch of bank operations by Hon. Jakaya Kikwete, President of Tanzania and formulation of the bank’s long term strategy.
Commencement of Operations
Commencement of lending operations and implementation of the capacity building programme for smallholder farmers.
Establish value chain financing approach
Adopted the clustering and value chain financing approach of the smallholder farmers agricultural transformation strategy.
Expand banking operations
Opened three zonal offices – Central Zone, Eastern Zone and Lake Zone. Started implementation of the Smallholder Farmer Credit Guarantee Scheme.