We are thrilled that the African Development Bank Group Group’s Board of Directors has approved a $66 million loan equivalent to TZS 165 billion to the government of Tanzania as additional equity to our bank, Tanzania Agricultural Development Bank (TADB).
Expressing his appreciation, TADB Managing Director Mr. @Frank Nyabundege commended the Government efforts in enabling TADB operate effectively, successfully and sustainably towards its broad goal of transforming agriculture from subsistence to commercial.
‘It is with no doubt that our H.E President Dr. Samia Suluhu Hassan and the Government that she leads, has earned us this tremendous amount that is going to boost our bank’s equity. This loan will strengthen our capital and enhance the structure and increase effectiveness of financial and non-financial services that we offer across different value chains in agriculture, livestock and fisheries sector,’ Nyabundege commented.
Other financial supporting areas from AfDB’s Board approval includes:
✅️ $950,000 Affirmative Finance Action for Women in Africa (AFAWA) initiative to boost access to finance and related support to women in identified agriculture value chains.
✅️ $250,000 that comes from the Africa Adaptation Acceleration Program (AAAP), a joint initiative of the African Development Bank and the Global Centre on Adaptation (GCA). This will go toward climate risk management support.
For more information click the link below.
📸 AfDB delegation led by Dr. @Berth Dunford during their meeting with TADB MD at TADB Headquarters this year.