Bashe calls for a special monetary policy targeting agriculture secto

banks for borrowing.

According to him, such a policy would streamline loan accessibility for farmers, eliminating the various obstacles currently impeding their access to finance due to the absence of sector-specific financial guidelines.

During a weekend address in Tabora, where he inaugurated a new branch of the Tanzania Agricultural Development Bank (TADB) serving Tabora, Kigoma, and Katavi regions, Bashe highlighted how the bank's presence would bolster agricultural productivity in the region.

"In all the economies of our country, incoming loans are more than 20tn/- and the amount that goes to this sector is less than 10 percent. And yet if you go to production in agriculture, the money given as a loan is very low. I have now spoken to the Minister of Finance, the Governor of the Central Bank, the Minister of Planning.

"We need a financial policy for agriculture because it is impossible for agriculture to be loaned using commercial bank policies, using that policy we will still not be able to lift people out of poverty," said Bashe.

Added that President Samia Suluhu Hassan is making efforts to raise the sector and improve the lives of farmers, including the construction of irrigation infrastructure and expanding the services of the agricultural bank with the aim of bringing an agricultural revolution with sustainable plans that meet the needs of farmers through different services financially.

"Once the government has finished improving the infrastructure, the farmer needs money to buy fertilizers and inputs. Therefore, it is important and we must have a clear policy to get capital in production sectors such as agriculture, livestock and fishing, and as the minister I will push all those involved to get this policy and I believe it will be successful," said Bashe.

The Executive Director of TADB Bank, Frank Nyabundege, noted that until February, this year, TADB has enabled farmers and breeders by providing loans worth 19.599bn/- in the Kigoma regions 7.209/-, Katavi 2.394bn/- and Tabora 9.996bn/-.

"These loans have been granted for Rice, Bean, Cow fattening, Ginger, Chicken, Pig and Sheep and breeding projects. The bank continues to put in place solid lending strategies for tobacco, cotton and honey crops, as these crops contribute to developing the economy of Tabora Region," said Nyabundege.

Vice Chairman of the Kigoma Cooperatives Forum, Hussein Buchunguka, who is a palm farmer, thanked the bank for its great contribution to empowering farmers and in the purchase of machinery for processing the crop.

"Today, the palm tree is recognized, before it was a temporary product, but now it is a product of the economy until we talk about the size you will see the oil produced from the palm tree, the journey to get rid of the shortage of oil has begun, thanks to TADB for supporting us and building our respect in agriculture," said Buchunguka.