Agrobank has expanded its branch network in Sabah with the opening of its branches the 139th in Beluran. The opening of the branch was officiated by Datuk Seri Dr. Ronald Kiandee, Minister Agriculture and Food Industry. Beluran is well known for its agricultural activities as well as food processing industry, particularly in crop, fisheries and livestock with enterprises like Swiftlet which are growing in tandem with demand. With these growth, Agrobank find it suitable to make firm commitment to the community the setting of a physical branch to assist the both the unserved and underserved groups especially in these rural areas. This year alone a total RM 191 million of funding was approved by the bank in Sabah, out of which RM2.8 million in funding recorded in the Beluran Area which shows the appetite for such facilities. Currentl the peopls of the town have to travel 82km to Sandakan to for their banking activities, the response by Agrobank is praised by the Minister for its quick act. The bank has commited to assist in the development of the micro sector where these entreprenuers are able to seek RM75,000 in loans with zero charges for the first six months with a moratorium. Commenting on the opening, Acting CEO Khadijah Iskandar, said, “Agrobank branch in Beluran has great potential in helping to strengthen the local economy because its unique farming activities. We are committed and optimistic we can help improve local economic growth through the products and services offered by Agrobank as it covers all processes along the agricultural value chain.
