UN gives Tanzania US$90M rural finance loan
The United Nations Fund for Agricultural Development (IFAD) has given Tanzania a US$90.6 million loan to promote private sector rural development.Â
The loan will include a marketing infrastructure, value addition and rural finance support programme extended to the country on concessional terms, co-financed by the African Development Bank (AfDB), the Alliance for a Green Revolution in Africa (AGRA) and the national government.
The beneficiaries of the loan are expected to implement an agricultural development strategy, envisaging a modernized, commercial, highly productive and profitable sector by 2025.
Earlier this month IFAD lent a US$12.7 million loan to northern Ecuador, as part of a rural development initiative along the Ibarra-San Lorenzo corridor.
Photo: www.ifad.org
Source: www.freshfruitportal.com