ADVERTISEMENT

ADVERTISEMENT

World Bank approves $70 million loan for Tanzania agriculture

DAR ES SALAAM - The World Bank has approved a $70 million loan to Tanzania to support up to 500,000 smallholder farmers and help the agricultural sector, which has long suffered from low productivity and a lack of financing.

2046199+Africa.jpg
We are part of The Trust Project.

DAR ES SALAAM - The World Bank has approved a $70 million loan to Tanzania to support up to 500,000 smallholder farmers and help the agricultural sector, which has long suffered from low productivity and a lack of financing.

About 75 percent of Tanzanians depend on agriculture for their livelihoods. Agriculturecontributes to 25 percent of the gross domestic product (GDP) and accounts for 34 percent of export earnings, according to government estimates.

"Smallholder farmers play a central role in Tanzania's agricultural sector," Bella Bird, World Bank Country Director for Tanzania, said in a statement.

What To Read Next
The number of cows going to slaughter is far above the five-year average. Attendees of the annual Cow Calf Days tour in Minnesota heard the latest on cattle trends.
As Mikkel Pates approaches his retirement from Agweek after 44 years in journalism, he talks to Rose Dunn about learning TV, covering ag's characters and scandals and looking toward the future.
Members Only
“In our industry there aren’t a lot of young people in it. I like the fact that there are a lot of young people in agriculture here,” he said of the Mitchell area.
Minnesota Farmers Union, Minnesota Soybean Growers Association and Minnesota Corn Growers Association were pleased with items in Gov. Tim Walz's "One Minnesota Budget" proposal.