The International Fund for Agricultural Development and Tanzanian government have signed a $90.6 million loan deal to support a program designed to boost access to financial services and markets in the African country’s rural areas.
The African Development Bank and Alliance for a Green Revolution in Africa are cofinancing the Marketing Infrastructure, Value Addition and Rural Finance Support Program. The initiative seeks to strengthen the capacity of participating commercial banks to ensure sustained lending for agriculture and help improve governance and management systems among rural microfinance institutions in Tanzania
According to an IFAD press release, the initiative will directly benefit more than 500,000 vulnerable rural households, including smallholder farmers, herders and fisherfolk, small-scale rural entrepreneurs, traders and artisans, grass-roots microfinance institutions, processing and marketing groups, very poor rural women and young people.
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