Agrobank Collaborates with Petronas on a Micro-Financing Programme For B40 in Agriculture Sector
KUALA LUMPUR, 28 January 2020 – Agrobank today announced a micro-financing programme in collaboration with Petroliam Nasional Berhad (PETRONAS) to support micro-entrepreneurs in the agricultural and agro-based sectors in the Bottom 40 per cent group (B40 agropreneurs).
In the collaboration, Agrobank will manage the programme through its excellent track record in B40 micro-financing facilities with an established ecosystem in the agricultural sector while PETRONAS will allocate an investment amounting RM100 million to Agrobank, which will be disbursed over five years to support the economic development of B40 agropreneurs under this programme.
At a signing ceremony to mark the collaboration, Agrobank was represented by its Chief Business Officer Ahmad Shahril Mohd Shariff while PETRONAS was represented by its Executive Vice President and Group Chief Financial Officer YM Tengku Muhammad Taufik Tengku Aziz.
The event was witnessed by Minister of Economic Affairs YB Dato’ Seri Mohamed Azmin Ali; Minister of Agriculture and Agro-based Industry YB Datuk Seri Haji Salehuddin Ayub, Agrobank Covering President and Chief Executive Officer Puan Khadijah Iskandar; PETRONAS Chairman Datuk Ahmad Nizam Salleh and PETRONAS President and Group Chief Executive Officer Tan Sri Wan Zulkiflee Wan Ariffin.
Khadijah said the collaboration shows the synergy of the two organisations in working together towards supporting the shared prosperity agenda, targeting B40 agropreneurs. “As a bank that understands agriculture better, Agrobank is committed to empowering the B40 groups through our various structured micro-financing programmes. Over the years, we have designed many unique microprogrammes for paddy farmers, chilli planters, smallholders for peppers, palm oil, poultry and many more. We commend PETRONAS’ insightful vision in identifying agriculture as an important lever to reach out effectively to the B40 target group,” she added.
Eligible applicants who meet the B40 income criteria may contact any Agrobank branch across the country or call our contact centre at 1-300-88-2476 to enquire about available micro-financing facilities.