In addition, Lugemala, said that the aim of these affordable loans is to catalyse commercial banks and financial institutions to disburse more loans to farmers and eventually enhance the growth of the agricultural, livestock and fisheries value-chains in the country.
“Up-to March 2021, the TADB SCGS scheme had already pumped in TZS 75 billion into various agricultural, livestock and fisheries projects, impacting 11,000 beneficiaries directly and 755,000 indirectly. Among the value-chains which we have financed include that of cashew-nuts, paddy, coffee, sugarcane, maize, cassava, cotton and poultry,” explained Lugemala.
According to TADB, the SCGS scheme was established in 2018. In the past three years, TADB has partnered with commercial banks and financial institutions such as NMB, CRDB, Azania Bank, TPB, Stanbic Bank, FINCA Microfinance, UCHUMI Commercial Bank, Tandahimba Community Bank (TACOBA), Mufindi Community Bank (MUCOBA) and now NBC.
TADB believes that through this strong network of strategic cooperation, a large number of small-holder farmers will be reached,” emphasized Lugemala.