Agrobank Approves 1,411 Applications of SRF and AF Funds
KUALA LUMPUR – Agrobank has approved Special Relief Facility (SRF) and Agrofood Facility (AF) aids through Prihatin Rakyat Economic Stimulus Package (PRIHATIN) amounting RM567 million to 1,411 small and medium-sized enterprises (SMEs).
According to Khadijah Iskandar, Covering President / Chief Executive Officer of Agrobank, as at 31st August 2020, 1,005 SRF applications amounting RM409 million and 406 AF applications amounting RM158 million has been approved by Bank Negara Malaysia (BNM) to SMEs via Agrobank to assist rebuilding their businesses.
“Agrobank is committed in helping SME entrepreneurs. It has been our DNA in every effort of ours to improve the performance of agriculture sector and micro food industries while at the same time helping to develop SME entrepreneurs. In addition, the injection of funds is expected to assist SME entrepreneurs and allowing them to redesign their business strategic plan especially in this difficult period,” said Khadijah.
Khadijah added, “To ensure the continuity of business operations, job retention and to support economic growth during this challenging time, Agrobank will continue our effort to ensure our entrepreneurs get the essential assistance.”
SRF and AF are part of BNM’s RM10 billion and RM1 billion funds respectively aimed to ease cash flow of SMEs due to impact of MCO due to COVID-19 pandemic.