KUALA LUMPUR (September 15): Agrobank remains committed to supporting the development of the socio-economic status of Malaysians through various entrepreneurial initiatives developed to help businesses affected by the Covid-19 pandemic.
In a statement released today, Chief Executive Officer Khadijah Iskandar said that as a Development Finance Institution (DFI) its aim is to strengthen the agricultural sector and continue to develop small and medium enterprises, including unserved and underserved communities, under 40% income (B40) group, women, disabled and asnaf.
“This helps ensure that these communities continue to be supported and able to improve their current socio-economic status, especially during this transition period where the country’s Covid-19 status is becoming endemic,” she said. .
His statement followed a recent call by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz for DFIs to fully support the country during the recovery period by playing a strategic and important role in restoring and preserving trade capacity while providing various opportunities.
Khadijah said that Agrobank has helped many entrepreneurs through the RM 350 million Microcredit Financing Fund under the PENJANA plan to farming communities.
âAs of July 31, 2021, Agrobank has approved total funding of RM200.4 million under the PENJANA Agribusiness Fund plan, which involved around 16,000 entrepreneurs from farming communities,â she said.
The allocation was sent to micro-entrepreneurs of the B40 group involved in the agro-food sector who were affected by the movement control order to help them with their operating costs and as working capital for their businesses.
“Agrobank is ready to guide its customers through the difficulties faced by Malaysians during this testing period and will do its best to offer the best solutions,” she added.