Agrobank Allocates RM200 Million In Home Financing Fund To Improve Comfort For Felda Settlers
KUALA LUMPUR, 13 JULY 2024 – Agrobank reinforces its commitment to the welfare of FELDA settlers through the allocation of RM200 million in housing financing funds for eligible settlers under the Affordable Homes Programme-i. Agrobank President/Chief Executive Officer, Dato’ Tengku Ahmad Badli Shah Raja Hussin presented a replica cheque to FELDA Deputy Director General Corporate Services FELDA, Mahadzir Mustafa today as a symbol of Agrobank’s support in realising the dream of FELDA settlers to own their first homes. The financing scheme is a testament to Agrobank’s dedication in empowering the settler community, in line with the auspicious FELDA Settlers’ Day celebration at MAEPS, Serdang.
The strategic collaboration between Agrobank and FELDA, established since 2020, continues to yield positive results in empowering the well-being of settlers. Through the FELDA New Generation Housing Financing Programme (PGBF), Agrobank not only provides a large allocation of Affordable Housing Programme-i, but also improvises its financing terms and offers lower profit rates for eligible applicants. The collaboration was further strengthened in 2021 with the formation of a new model of the Settler Development Programme (PPP) worth RM100 million, aiming at improving the socio-economic status of settlers holistically.
According to Agrobank President/Chief Executive Officer, Dato’ Tengku Ahmad Badli Shah Raja Hussin, ” A home is a basic necessity that every individual needs as a place of shelter. The desire to own a home among Malaysians is increasing as many understand it is a long-term asset. However, rising house and land prices have made financial factors the main issue for Malaysians in owning their own homes, especially for low-income groups in the agricultural sector.”
He further highlighted, “So far, the application of the house financing has been encouraging, with the total number of applications worth RM137 million. Agrobank has approved around RM59 million, proving our commitment in helping FELDA settlers to own a home.
Agrobank and FELDA have collaborated to strongly support the FELDA New Generation Housing Financing Programme (PGBF) in various strategic locations throughout the country, including Felda Inas, Felda Keratong, Felda Padang Piol, Felda Pasir Besar, Felda Selendang, Felda Selancar, Felda Pasoh, Felda Sungai Koyan, Felda Sungai Tiang, and Felda Laka Selatan. The financing facility is a part of Agrobank’s ongoing effort to ensure that more FELDA settlers across the country can benefit from this financing facility.
Also present at the event were Agrobank Chairman Datuk Yunos bin Abdul Ghani and FELDA Chairman Dato’ Sri Ahmad Shabery Cheek.