Agrobank Committed To Developing Agro-Food Ecosystem In Line With Intentions Of 2023 MADANI Budget

As a financial development institution (FDI) responsible for improving the well-being of the country’s food security, Agrobank remains committed to helping the Ministry of Agriculture and Food Security (KPKM) ensure the development and sustainability of the country’s agro-food ecosystem remains stable as stated by YAB Prime Minister, Dato’ Seri Anwar Ibrahim in conjunction with the recently announced MADANI Budget 2023.

According to Dato’ Tengku Ahmad Badli Shah Raja Hussin, President/CEO of Agrobank, “Malaysia is currently ranked 41 out of 113 countries with a score of 69.9% in the Global Food Security Index (GFSI) 2022. For aspects food security, this food security policy is assessed through four dimensions which are availability, accessibility, consumption and stability of food supply across the food value chain.”

“Based on these figures, Malaysia is now at a moderate level and various initiatives need to be implemented to further strengthen food security in Malaysia. Therefore, Agrobank is ready to engage in various strategic collaborations to ensure that the country’s agro-food ecosystem remains secure. This effort needs to be done together across various agencies and corporate companies. This is to ensure that this kind of symbiosis can help the country ensure sufficient food supply in Malaysia and at the same time increase the country’s Self-Sufficiency Level (SSL),” he added.

“The holistic financing offered by Agrobank to realize this noble wish is part of the Bank’s ongoing efforts to improve the stability and sustainability of the country’s food supply guarantee. In a situation where there are countries in the world that are still squeezed by the instability of the food supply chain, Agrobank continues to commit to playing its role in helping the country to ensure that the food supply in Malaysia is sufficient in line with the aspirations of a civilized Malaysia,” said Dato’ Tengku Ahmad Badli. Shah.

He added, “Various financing packages offered by Agrobank to ensure the development of the agro-food sector remains sustainable. In 2022, Agrobank has approved as much as RM2.16 billion in financing that will benefit over 12,000 agropreneurs, especially micro, small and medium enterprise entrepreneurs (PMKS) across various upstream and downstream agricultural value chains specifically to develop the country’s agriculture and agro-food sector.”

According to him, apart from that, Agrobank remains committed to attracting the interest of the younger generation to pioneer the agriculture and food industry in Malaysia. This is implemented through various business guidance programs as well as various special financing programs under Agrobank to encourage more Malaysians, especially the youth, to venture into agriculture.

“Malaysia needs more youth to be a layer to this sector to ensure that the country’s food supply in the future remains stable and guaranteed. This is seen to be able to reduce the level of dependence on imported food supply while also being able to improve their socioeconomic status. Therefore, this synergy needs to be enhanced and implemented more aggressively to ensure the sustainability of the agro-food sector,” he added.

“There are various options available in the agricultural sector, all of which are very important to help improve food security in Malaysia. KPKM is also active in promoting the agricultural sector as a driving force for the country’s economic sustainability and thus making it one of the attractive branches of the economy, including 3D – Dignified, Desirable, and Dynamic.”

“Thus, in supporting KPKM, Agrobank not only offers services and products involving financing in all upstream and downstream agricultural activities, Agrobank also offers guidance and advisory services to ensure agropreneurs continue to be competitive and successful in the sector they work in.”

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