The Tanzania Agricultural Developent Bank is attracting interest from West Africa as Liberia taps into the East African nation’s expertise in the sector, APA can report from Daer es Salaam on Monday.
Owned by the state, the TADB operates as a development finance institution, providing short, medium, and long-term affordable credit facilities to stakeholders in the agribusiness.
Its mandate is attuned with Tanzania’s Vision 2025 goals of achieving self-sufficiency and security in food, economic development, and the reduction of poverty.
Central Bank of Liberia officials are in Tanzania for tips on how the TADB had morphed into one of Africa’s most successful banking finance houses.
The West African nation which is still recovering from the devastation by two civil conflicts has no agricultural development bank of its own but its officials are looking into how the TADB continues to maintain financial buoyancy despite the provision of thousand of dollars in loans to the country’s farmers to boost productivity and independence.
The Liberian officials’ trip is to discover how the TADB has been able to rise to its current reputation as a thriving institution in a relatively short space of time.
In a statement seen by APA, TADB’s Director of Planning, Advisory, and Corporate Affairs, Waziri Mkani said: ”The delegation believes that TADB offers a practical and proven model frm which they can draw lessons”.
Mkani said Liberia is on the verge of estabilishing a similar financial institution to support agricultural development which was adversely affected during years of the West African country’s civil strife.
WN/as/APA