Tanzania: Govt Urges Lenders to Hike Agric Loan Portfolio
31 December 2020
By James Kamala
THE government has called upon lending institutions to increase loan portfolio to agriculture to at least 20 per cent in order to make the sector more vibrant and contribute to economic growth.
The Minister of State in the President s Office (Investment), Prof Kitila Mkumbo, said in Dar es Salaam on Tuesday during the familiarization tour to the Tanzania Agriculture Development Bank (TADB) that, We need to push bank loans channeled to agricultural sector financing to reach 20 per cent from the current 9 pc of total loans given out by financial institutions countrywide.
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