Saturday, 25 April 2009

Bank supports cotton growers

From The Citizen, Dar es Salaam
By Paulina David, Mwanza

The CRDB Bank has so far lent Sh63 billion to its clientele, mainly cotton growers, in Mwanza Region.

Regional bank manager Mugwagi Steven said lending to agriculture accounted for 47.8 per cent of the money loaned. Sh1.9 billion was loaned to individuals.

He said personal loans were difficult to get because many people lacked collateral.

He advised those intending to borrow funds to do so through savings and credit cooperative societies, which borrowed Sh3 billion from the bank.

He said Sh24.8 billion of the total loans had been provided for short-term projects and Sh37.6 billion for long-term undertakings.


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