RM2.5bil in Sabah Agrobank loans
Published on: Saturday, June 08, 2024
Ahmad Badli handing over a memento to Chief Minister Datuk Seri Hajiji Noor.
Kota Kinabalu: Agrobank channelled financing amounting to RM2.5 billion from 2019 to 2023 which benefited entrepreneurs in the main sectors of agriculture, fisheries and animal husbandry in Sabah in realising the Sabah Maju Jaya direction agenda.
Agrobank personnel paid a courtesy visit to the Sabah Chief Minister’s office to discuss Agrobank’s initiatives and impact in strengthening the agricultural sector in the state of Sabah, especially in rural areas.
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The initiatives organised by Agrobank are in line with the Sabah Maju Jaya agenda which focuses on economic growth supported by key sectors, especially the agricultural sector to optimize the country’s resources and results, develop human capital and prosper the state and society in Sabah.
According to President and Chief Executive Officer of Agrobank, Dato’ Tengku Ahmad Badli Shah Raja Hussin, with the existing funding, they will continue to support the economic development of Sabah, especially in realising the Sabah Maju Jaya direction agenda.
“The initiatives organised by Agrobank in Sabah are also a manifestation of our mandate to remain committed to providing inclusive banking access, covering rural communities in an effort to stimulate the economy and upgrade living standards while also opening up job opportunities for localities,” he added.
Agrobank cooperates with agencies under the Ministry of Agriculture and Food Security, State Ministry of Agriculture, Ministry of Plantation & Commodities, as well as hawker and trader associations in obtaining prospects for financing customers for various types of funds under Agrobank.
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Among Agrobank’s initiatives for the Sabah community are financing programs of the bank’s collaboration with Aqina Borneo Sdn Bhd for a MD2 pineapple contract farm project in Beaufort with a total allocation of RM6 million.
A start up fund for the B40 Newbiz Recovery group as of December 2023 which has collected RM600,000, special financing for women entrepreneurs (Agro Teras Nisaa) up to RM1.09 million by December 2023 and Asnaf Development Programs and creating Asnaf Entrepreneurs.
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