TADB to open Central Zone office by June

TADB to open Central Zone office by June

Sat Apr 21, 2018

The Deputy Minister for Finance and Planning, Dr Ashatu Kijaji made the revelation here yesterday when reacting to a question of Jacqueline Msongozi(Special Seats-CCM) on when will the bank operate from the designated Capital.

She said after the shift then TADB will look into opportunities around in all zones thus opening their offices in other areas depending on the need and financial resources available.

Ms Msongozi also asked when the government is planning to have such an office in Ruvuma region so that farmers can benefit with the soft loans given by the bank. Dr Kijaji said the plans are, the bank between 2017 and 2021 to construct zonal offices in Southern, Central, Lake, Zanzibar and Southern Highlands.

On lowering the interest rate, Dr Kijaji said the issue is up for discussion between the bank and the loan applicant depending on ones loan history.

For the time being, she said, the bank issues loan in groups, including of small scale farmers whose loan interest is between eight and 12 per cent while for large scale farmers the interest is pegged between 12 and 16 percent.

 

Source: Daily News

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