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July 24, 2011

AfDB loans $64 million for Tanzania's agriculture

by John Mbalamwezi

The  African Development Bank (AfDB) has approved $ 64 million loan to support agriculture marketing infrastructure programmes in Tanzania.

The sum of amount will be disbursed under the Marketing Infrastructure Value Addition and Rural Finance Programmes (MIVARFP), which will be implemented over five fiscal years, 2011 - 2016.

The activities to be funded include: the construction or rehabilitation of markets which will become centers of commercial and social interactions, and growth centers around which other activities and enterprises will emerge.

The report says Tanzania runs the risk of falling behind its poverty reduction goals because of poor infrastructure.

The Bank financed Marketing Infrastructure and Value Addition activities of Component one will be implemented in 32 districts out of 129 districts in sixteen 16 regions.

The AfDB bank says, out of 16 regions, 14 will be from the Mainland and two from Zanzibar based on their economic potential with respect to the production of key crops and livestock.

Business Week

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