Collaboration Between Agrobank, Nekmat Improves Living Standards, Income Of Fishermen

SERDANG, 20 SEPTEMBER 2024 – Agrobank has taken a significant step to support fishermen by forming a strategic partnership with the National Fishermen’s Association (NEKMAT) to improve the living standards and household income of fishing families.

According to Agrobank’s President/Chief Executive Officer Dato’ Tengku Ahmad Badli Shah Raja Hussin, “It is well-known that fishermen face various challenges in earning their livelihood at sea, often encountering threats such as natural disasters, damaged fishing gear, climate change, and disruptions to the country’s marine ecosystem.”

Recognizing the critical role that fishermen play in contributing to the nation’s seafood production, Agrobank and NEKMAT have joined forces through several specially designed programs aimed at empowering fishermen across the country.

Among the programs being implemented are:

1. Fishermen Resettlement Program (PSN)

This financing program assists fishermen in acquiring homes under the PSN LKIM housing project. Ongoing housing projects include PSN Bunut Rendang, Kuantan (154 units), PSN Kuala Sg. Baru, Melaka (60 units), and PSN K. Perlis, Perlis (60 units).

2. Entrepreneurship Guidance and Solidarity Financing Program (known as Agro Nisaa-i Program)

This program targets women from fishing families by providing financial support for side economic activities to boost household income. The program operates in fishing villages and currently has two TERAS NISA’A centers in Kuala Kedah and Kuala Jerlun, Kedah. For the abovementioned programs, Agrobank allocates financing amounting to RM500,000. For Agro Nisaa-i Program, the minimum financing is RM1,000 to a maximum of RM30,000.

In addition, Agrobank is actively developing contract farming projects, involving fishermen as participants alongside experienced industry players as project leaders. Identified projects include aquaculture farming using bio-floating net cage technology.

To strengthen existing programs and create new contract farming initiatives, RM50 million will be announced during the signing of the strategic partnership to facilitate financing.

This initiative is open to all Agrobank entrepreneurs registered with NEKMAT who meet the general criteria for the Fishermen Resettlement Program and the Agro Nisaa-i Program.

Through this collaboration, Agrobank aims to continue empowering the fishing community and advancing the agricultural sector through structured financing and new economic opportunities.