TADB, ICR devise scheme to finance women and youth

Tanzania Agricultural Development Bank (TADB) in collaboration with the European Union funded Climate Reform Facility (ICR) has devised a gender and youth scheme to ensure their inclusion in agriculture through increased access to finance.

The project is part of TADB’s deliberate efforts aimed at closing the economic gap between women and youth. It was in this reason that TADB sought ICR Facility technical assistance in order to provide the bank with options towards increased agri-finance approaches for the two important groups in socio-economic development of the nations.

According to Finscope statistics, a nation representative survey that provide an overview of the financial behaviour of Tanzanian adults indicates that the former constitutes 50 per cent of the workforce while the latter constitutes 50 per cent of the workforce but is financially excluded, with only 6% of women banked and only 26 per cent of youth as dedicated farmers.

The TADB technical assistance from the EU-funded ICR Facility gender and youth scheme in progress will inform TADB and other financial institutions about the necessary steps that must be taken to increase financial inclusion among women and youth in the agricultural sector.