TADB and the Ministry sign a loan agreement of 60 billion / – for fishermen


Speaking before attending the signing of the memorandum, Minister of Livestock and Fisheries, Mashimba Ndaki, said the government has prepared a program to develop aquaculture by providing financial support to stakeholders in the sector.

He said the program follows a directive issued by President Samia Suluhu Hassan on January 7, 2022, calling on stakeholders to utilize available opportunities offered by the blue economy, including the enhancement of aquaculture.

During this year’s farmers and livestock fair, commonly known as “NaneNane Exhibitions”, the president called on the ministry to ensure that fish production increases from 497,567 tonnes to 600,000 tonnes by 2025.

“In implementing the directives issued by the Head of State, the ministry has drawn up a program to empower individual fishermen, groups, aquatics, fishing cooperatives and companies,” the minister said.

The Minister explained that the financial assistance will be for the purchase of modern fishing equipment such as fiber boats, fishing nets, fish fingers, fish food and inputs for the cultivation of fish. algae.

He called on fisheries stakeholders to seize the opportunity and get the loans, pointing out that local government authorities are encouraging people to seek support and help improve their businesses.

Minister Ndaki thanked President Samia Suluhu Hassan for setting aside 60 billion/- for the development of the fisheries sector in 2022/23.

“I hope that if this amount is used wisely, the president will probably approve a budget increase in the coming fiscal year,” he added.

Meanwhile, the deputy minister of the ministry, Abdallah Ulega, acknowledged that fishermen have difficulty accessing loans from financial institutions, commending TADB for this good gesture.

“TADB has an important role to play in ensuring loans reach the targeted groups of people as many people have struggled to access these services to no avail,” he said.

In the same vein, the Chairperson of the Parliamentary Agriculture, Livestock and Water Committee, Dr. Christine Ishengoma, expressed the committees’ gratitude for this, saying that she has always pushed the government to see how to improve the fishing sector.

TADB Director Frank Nyabundege said the institution will continue to support the agricultural sector as a core business.

He said the aim of the bank is to boost agricultural production, increase food availability in the country and change people’s lives, especially those directly involved in agricultural production chains.

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