In Summary
  • Tanzania Agricultural Development Bank which has the mandate to finance Tanzania’s agriculture sees the agreement as a chance to implement its key role of boosting the growth of Tanzania’s agriculture by ensuring that large and small scale farmers are able to grow their crops throughout the year.

Dar es Salaam. The Tanzania Agricultural Development Bank (TADB) and the National Irrigation Commission (NIRC) yesterday signed a memorandum of understanding (MoU) that will see the two institutions cooperating in protecting and modernising water sources and irrigation schemes.

TADB acting managing director Japhet Justine and the NIRC managing director Eliakim Chitutu signed the MoU.

According to Mr Justine, the MoU offers the bank a chance to implement its key role of boosting the growth of Tanzania’s agriculture by ensuring that large and small scale farmers are able to grow their crops throughout the year.

“Ultimately, this should result in the offering of quality crops that are competitive on local and international markets,” he said.

Dr Chitutu said the commission highly values and needs the bank’s financial support because, he said, the money the commission receives from the Treasury is insufficient for the commission to work efficiently.

The commission has several projects to clear in the next 17 years, he said.

He said the commission has small, medium and big schemes and invited the private sector to invest in schemes of their choice adding that for farmers to succeed they need to work in an environment that is farming-friendly.