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Agrobank, Menteri Besar Selangor Incorporated (MBI) Form Strategic Partnership To Empower Agro-Entrepreneurs In Selangor



SERDANG, 1 SEPTEMBER 2024 – Agrobank has officially formed a strategic partnership with Menteri Besar Selangor (Incorporated) (MBI) to support the development of agro-entrepreneurs in Selangor by providing financial assistance and business support across various segments of the agricultural value chain.

This initiative formalized through a Memorandum of Understanding (MoU) between Agrobank and MBI, empowers agricultural entrepreneurs in Selangor by enhancing their production capacity and strengthening the nation’s food supply chain.

The MoU signing ceremony was officiated by Agrobank President/Chief Executive Officer (PCEO) Dato’ Tengku Ahmad Badli Shah Raja Hussin and MBI Group Chief Financial Officer Zannifa Azura Ahmad, witnessed by Selangor Menteri Besar Datuk Seri Amiruddin Shari, in conjunction with the Malaysia Agriculture, Horticulture, and Agrotourism Exhibition (MAHA 2024) held at MAEPS, Serdang.

Through this collaboration, entrepreneurs engaged in agriculture, whether upstream activities include livestock farming and fisheries or downstream processes such as food processing and manufacturing, will gain access to necessary funding.

” Agrobank will provide various financing facilities and enhance the readiness of Selangor’s entrepreneurs through training and advisory services. This initiative aims to bolster agri-food and strengthen the nation’s food supply chain. We provide the financing assistance minimum from RM1,000 to maximum RM5,000,000.”

“We are proud to collaborate with MBI to support Selangor’s agricultural community. This initiative aligns with Agrobank’s mission to promote the growth of Malaysia’s agricultural sector and to ensure that our entrepreneurs have access to the financing needed for their success,” said Agrobank’s President/Chief Executive Officer (PCEO), Dato’ Tengku Ahmad Badli Shah Raja Hussin.

The program will commence in the fourth quarter of 2024 and continue until the allocated funds are fully utilized. It is open to new and existing Agrobank customers registered as entrepreneurs under the Selangor State Government.

Eligibility Criteria

  • Entrepreneurs aged between 18 and 70 years.
  • Businesses must be at least 51% Malaysian-owned.
  • Businesses must be registered with the Companies Commission of Malaysia (SSM) and operate in Malaysia.
  • Business activities must comply with Shariah principles.

 

Financing Terms

  • Minimum Financing Amount: RM1,000
  • Maximum Financing Amount: RM5,000,000
  • Profit Rate: Varies depending on the type of financing program.

 

This collaboration reflects Agrobank and MBI’s commitment to empowering agro[1]entrepreneurs by providing financial solutions tailored to their needs. It also strengthens and develops the socio-economic landscape and local economy through a holistic and sustainable approach.