China Development Bank pledges to loan $500 million USD for setting up the Tanzania Agricultural Development Bank
Constant 2017 USD
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Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Banking and financial services (Code: 240)
According to the International Food Policy Research Institute (p. 13), in March 2009, the chairman of China Development Bank (CDB) visited Tanzania and signed a framework cooperation agreement with the head of the Bank of Tanzania regarding the establishment of the Tanzania Agricultural Development Bank (TADB). CDB conducted a pre-feasibility study shortly thereafter. On October 27, 2009, the Tanzanian and Chinese governments announced plans to set up the bank. Their plans included CDB setting aside $500 million USD of capital to support local farmers utilize the bank. The loan terms are unknown. However, the Chinese side were hesitant since the politicians running Tanzanian government banks have a reputation for not repaying loans. The bank opened in May 2012, but funding for the bank appears to have come from entirely from the Tanzanian government, not China. According to Africanfarming.net, Tanzania provided $48 million USD every year for 8 years. It does not appear as though the Chinese government followed through on its initial pledge to support the Tanzania Agricultural Development Bank.
Number of official sources
Number of unofficial sources
Receiving agencies [Type]
Tanzania Agricultural Development Bank (TADB) [State-owned Bank]