President John Magufuli has expressed his dissatisfaction at the
Tanzania Agricultural Development Bank for failing to empower farmers
despite a U.S.$158 million cash injection from the government. Magufuli
made the remarks during the launch of the second phase of the
agricultural sector development programme.
President John Magufuli yesterday expressed his displeasure at the
Tanzania Agricultural Development Bank's failure to empower farmers
despite over Sh360 billion having
President Magufuli
also voiced his concern about the bank's decision to channel funds to
other activities, contrary to the objectives of establishing the lender.
TADB was established in 2014, and just as soon became popularly known
as "the farmers' bank".
Dr Magufuli made
the remarks in Dar es Salaam when officially launching phase two of the
Agricultural Sector Development Programme (ASDP II).
He revealed that
the government borrowed Sh207 billion, out of which Sh60 billion was
immediately injected into the bank as capital for developing the
country's agriculture and livestock sectors.
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