Agrobank is established to serve multi-facets of society, it is a fallacy to regard the Development Financial Institution adjust for farmers and planters, the financial body goes beyond in its role, Agrobank essentially supports the whole agriculture value chain and extends to entrepreneurial development in the sector as well.
When Budget 2022 allocated RM150 million for the development of youth entrepreneurs to Agrobank and Bank Simpanan Nasional, the indication was clear that the future of the industry lies among the new faithful who must first be convinced. This is where modern farming and technology play their role, rightfully Malaysia is embracing digitalisaion speedily and this will surely accelerate interest among these targeted groups.
Commenting on the budget 2022 announcement, Khadijah Iskandar, Chief Executive Officer commented that the bank is aware that there has been a heightened interest among the youths as well as renewed curiosity towards agriculture, which is generally centred around interesting uses of technology in agriculture such as drones for farm management, vertical farming in urban spaces, heavily automated ecosystems and so forth. Agrobank will continuously play our role to assist and inspire more youths to enter the voyage of agriculture sector.”
Khadijah added on the bank’s position, “While youth and agrofood are equally important to boost the agriculture sector, Agrobank is committed to improving the social well-being of B40, micro agropreneurs and small and medium enterprises (SMEs). Through budget 2022, up to RM1.8 billion will be provided for micro-financing programmes. Agrobank appreciates the government’s continuous effort and initiative to support the unserved and underserved community in Malaysia.”
In this aspect, Agrobank will also offer micro-financing of up to RM75,000 at a zero per cent rate for the first six months with a moratorium facility for up to six months. Through this, the bank is confident to uplift the nation’s agriculture sector and to provide them with sound financial inclusion.
Agrobank is committed to supporting the national agriculture development agenda with its holistic strategies designed to be closely aligned towards supporting the government’s 2022 plan.
