Tanzania Agricultural Development Bank in collaboration with the Ministry of Livestock and Fisheries has handed over fourteen modern fibre fishing boats worth 1.2bn/- to fishermen in Tanga Region.

Speaking in the handover event Hon. Abdallah Ulega Minister of the Ministry of the Livestock and Fisheries has congratulated TADB for the job well done.

Minister Ulega has said that the intention to provide loans boats with 0% interest is the government’s effort to strengthen the fishing industry in the country.

He said that He.Dkt. Samia Suluhu Hassan President of the United Republic of Tanzania is determined to use the opportunity of the blue economy in uplifting economy of the country and the national income in general up to 10% by 2030.

Minister Ulega added that the provided fiber fishing boats are well equipped with modern and technological devices, such as a fish finder to enable the fisherman to find out where the fish are, GPS, pumps and other modern equipment to simplify fishing activities.

He also asked the fishermen to take care of the boats and equipment so that they can provide them with the intended benefits

“We ask you to take care of these facilities and improve your lives, save the money you earn, build a better house, educate your children and pay taxes accordingly” he said

In the Other part, Dr. Kaanaeli Nnko, Director of Finance @tadbtz on behalf of TADB Managing Director has said that TADB has endeavored to cooperate with the Ministry of Livestock and Fisheries in developing the fishing industry in the country.

Dr. Nnko has said that TADB has received a total of Shs. 25 billion from the Ministry of Livestock and Fisheries to provide 0% interest loans to the fishing sector and the Blue Economy value chain.

He has also urged the fishermen to use the modern boats for the purposes intended for the well-being of their lives and the country’s economy in general while reminding them to make loan repayments on time so that other Tanzanians can have that opportunity.

Dr. Nnko concluded by thanking the President of the United Republic of Tanzania He. Dr. Samia Suluhu Hassan for continuing to enable TADB to fulfill its responsibilities.

A total of 160 boats will be handed across the country in the first phase of the project worth Shs. 11.5 billion for 225 beneficiaries of which Women are 66 and Men and youth are 159.