Tanzania: Dar Bank And Agra Unveil $6.1 Million Credit Scheme for Poor Farmers
Christine Afandi
Dar es Salaam
The Tanzania National Microfinance Bank (NMB) in partnership with the Alliance for a Green Revolution in Africa (Agra) has unveiled a $6.1 million farm input credit scheme to benefit poor Tanzanian farmers and improve the country's network of rural agro-dealers.
A memorandum of understanding signed in Dodoma between the two institutions spells out that the financial scheme will boost subsistence farmers in five pilot districts to access farm inputs.
NMB will provide a total of $5 million for loans to be made available to agro-dealers in five pilot districts while Agra and the Financial Sector Deepening Trust (FSDT), a Tanzanian government finance initiative, will provide $1.1 million in a guarantee fund to help reduce the risk of lending by NMB to agro-dealers.

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