TADB awarded for strengthening cooperatives

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By Isdory Njavike,Simiyu

The Tanzania Agricultural Development Bank (TADB) was awarded here yesterday for strengthening the cooperative movement by giving strategic loans to primary societies and cooperative unions to a tune of 100bn/- in one year period.

Presenting the award, the Minister of State in the Prime Minister’s Office, Ms Angellah Kairuki, said TADB had strategically increased funding of primary societies and unions and therefore strengthening Tanzania’s cooperative movement.

“Your contribution has ended problems and challenges which in the past were seen to be impossible to overcome.  This award is a sign of appreciation of your efforts in strengthening our cooperative movement,” she said.
The minister also lauded the participation of the bank and other institutions in the Nane Nane Fair, saying their participation motivated members of the agricultural marketing cooperative societies and other smallholder farmers.  That motivation, she explained, encouraged members to take seriously agriculture and fisheries sectors as source of employment and disposable income.

“Your participation in fairs of this nature is an encouragement to smallholders to go on with the projected reforms in agriculture and fisheries sectors.  We need badly these reforms in strengthening our national industrialisation agenda,” she told her audience at Nyakabindi Fair Grounds here in Bariadi District.

Contacted for comment in Dar es Salaam, the TADB Managing Director, Mr Japhet Justine, said their bank was implementing focused strategy that contributed to national efforts in promoting agricultural and industrial efficiency.

“In this strategy we are working jointly with other banks.  Our common objective is to ensure farmers and other producers get working capital and other inputs in time,” he explained.
Nane Nane festivities are marked at national level in Simiyu Region, and in other selected zones.


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