DAR ES SALAAM, May 13 -- Tanzanias agricultural sector is losing tens of millions of dollars annually to climate shocks, the head of the state-owned Tanzania Agricultural Development Bank (TADB) said on Tuesday, warning that prolonged droughts and floods were threatening food security and rural incomes.

TADB Managing Director Frank Nyabundege said climate change had become one of the biggest risks facing farmers, agribusinesses and lenders tied to the sector, which remains the backbone of Tanzanias economy.

“Climate change continues to affect agricultural production, food security and the incomes of citizens, especially those in rural areas,” Nyabundege said during a public event in Tanzanias capital Dar es Salaam.

He cited...