KUALA LUMPUR (Sept 15): Agrobank remains committed to supporting the development of the socioeconomic status of Malaysians through various entrepreneurship initiatives developed to assist businesses affected by the Covid-19 pandemic.
In a statement today, covering president and chief executive officer Khadijah Iskandar said as a developmental financial institution (DFI), its focus is to strengthen the agricultural sector and continue to develop small and medium enterprises, including the unserved and underserved communities, the below 40% income (B40) group, women, the disabled and asnaf.
“This is to ensure these communities continue to be supported and able to improve their current socio-economic status, especially during this transition period when the country’s Covid-19 status is moving towards being endemic,” she said.
Her statement was in response to a recent call by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz for DFIs to provide full support to the country during the recovery period by playing a strategic and important role to restore and preserve business capacity while providing various opportunities.
Khadijah said Agrobank has helped many entrepreneurs through the Micro Credit Financing Fund amounting to RM350 million, under the PENJANA plan, to the agro-based communities.
“As of July 31, 2021, Agrobank has approved total financing of RM200.4 million under the PENJANA Agrofood Fund plan, which involved about 16,000 entrepreneurs from agro-based communities,” she said.
The allocation has been channelled to micro-entrepreneurs from the B40 group involved in the agro-food sector who were affected by the Movement Control Order to assist in their operational costs and as working capital for their businesses.
“Agrobank is all prepared to guide its customers through the difficulties faced by Malaysians during this testing period and will try its best to offer the best solutions,” she added.