MEDIA GALLERY

Just few days after the official launch of the Financial Year Development Plan (FYDP) III which has set a course for the country into Realising Competitivenes and Industrial for Human Development, TADB has done it again for the #AgriSector

In the presence of the Commissioner for Financial Sector Development, Dr. Charles Mwamwaja, representing the Minister of Finance and Planning, Tanzania Agricultural Development Bank Managing Director Mr. Japhet Justine and African Guarantee Fund Guarant Group CEO Mr. Jules Ngankam have signed an MoU that guarantees TADB. will allow the agri-bank to loan up-to USD 20 million to SMEs in the country.

"In the past, the Agri-sector SMEs in the country had to rely on the @PassTrust guarantee, followed by the Small-Holder Guarantee Scheme (SCGS) which TADB has facilitated with partner banks since 2018.....Thus, this new partnership with @AGF is going to enhance Agri-SMEs access to loans, boost their production levels and delivery in the market.

In addition, because of the partnership AGF has with AfDB, enables Tanzania Agricultural Development Bank #Women Clients in Agri-SMEs to enjoy a guarantee at 75% through the #AFAWA Affirmative Finance Action Women in Africa fruits "- Justine.

Representing the Minister for Finance and Planning, Dr. Mwamwaja congratulated TADB management and AGF for the signing.

"The Ministry commends the efforts just few days after the FYDP III launch of which among the vital areas addressed in the plan is #Industrial Economy for Human Development. It is clear that we need to support raw material production, women and youth accessibility to loans. This partnership has come at the right time."- he said.

"While we have 6️⃣5️⃣% of cultivated land, 6️⃣0️⃣% of the African population is below 2️⃣5️⃣years, yet Africa spends USD 3️⃣5️⃣bn in importing food and by 2️⃣0️⃣3️⃣0️⃣ we could be spending USD 1️⃣1️⃣0️⃣bn. 5️⃣0️⃣%of food produced is lost along the value chain. The partnership with TADB is setting trail to the continent. Addressing bottlenecks in the accessibility and affordability of loans by financial institutions for Agri-SMEs"- Mr. Jules Gankam Group CEO African Guarantee Fund