Agrobank Empowers Sarawak Entrepreneurs Through Sarawak Micro Credit Scheme Worth RM1.1 Million In Conjunction With Road To MAHA 2024
SARAWAK, 10 AUGUST 2024 – Agrobank today presented a replica cheque for the Sarawak Micro Credit Scheme worth RM1.1 million, aimed at empowering the Sarawak entrepreneurial community in conjunction with the “Road to MAHA 2024 @ Sarawak” held from 8th to 11th August 2024.
The handover ceremony of the Sarawak Micro Credit Scheme replica cheque was officiated by Yang Berhormat Datuk Seri Haji Mohamad bin Sabu, Minister of Agriculture and Food Security, to two recipient representatives in Miri and Lawas, Chai Lik Yang and Moren Balakas, with financing allocations of RM818,000 and RM284,000 respectively.
The Sarawak Micro Credit Scheme is a fund allocated by the Sarawak State Government through the Ministry of International Trade and Industry, Industrial Terminal and Entrepreneur Development in an effort to boost the agri-food industry, especially in Sarawak. As of July 2024, Agrobank Sarawak has approved financing funds worth RM95.4 million, covering 2,758 participants.
According to Agrobank’s President/Chief Executive Officer, Dato’ Tengku Ahmad Badli Shah Raja Hussin, “The Sarawak Micro Credit Scheme offers financing to the service and hospitality sectors contributing to the agri-food industry, encompassing the entire food chain process including resource production, processing, distribution, marketing, and food preparation services. Previously, we received an additional RM4 million in funds to empower local entrepreneurs.”
He further stated, “Agricultural activity is the source of the national economy and the backbone for achieving the food security agenda. Therefore, this allocated fund will attract local entrepreneurs to venture into the agriculture, fisheries, plantation, or livestock sectors. Additionally, it also provides opportunities for industry players to transform the agricultural landscape of the country towards a more advanced, modern, and sustainable direction.”
“For micro, small, and medium enterprises (MSMEs), this financing fund is necessary to expand their businesses so they can generate substantial returns commensurate with their efforts,” he added.
At the same event in Miri, Yang Berhormat Datuk Seri Mohamad bin Sabu, Minister of Agriculture and Food Security, also presented a replica cheque for KPKM Financing Fund totaling RM6.23 million to the representative, Dato Yap Foot Loi. Among the KPKM Financing Funds are:
- Dana Pembiayaan Agromakanan Keluarga Malaysia (DPAKM)
- Dana Pembiayaan Agromakanan (DPA)
- Program Modenisasi Rantaian Nilai Agromakanan (PMRNA)
Agrobank’s initiative in allocating funds for various types of financing solutions demonstrates our commitment to empowering local entrepreneurs. Additionally, it encourages industry players to continue striving to increase food production output to enhance the country’s agri-food sector in line with the vision and mission of national food security.
At the same Road to MAHA 2024 program, Agrobank’s Miri and Lawas branch launched the Cashless Community initiative at Pasar Tamu Lawas to raise awareness about the importance of digitalisation and access to rural banking services.