Kota Kinabalu: Agriculture and Food Security Deputy Minister (MAFS) Chan Foong Hin commended Agrobank’s move to allocate RM10 million in loan facilities for the Young Agropreneurs and Community Gardens programme in Sabah.
“This step is in line with the focus that I have outlined for this region, which is to promote urban agriculture, high-tech agriculture, and efforts to make agriculture a future career of choice for young people.
“Sabah is in great need of allocation, funding or financing facilities from existing financial institutions. I would like to thank Agrobank for responding to my mandate.”
He said this after officiating at the Agrobank Chinese New Year Huat Ah Campaign at the Pacific Sutera Hotel, here, Wednesday. Also present was Agrobank Chairman Datuk Yunos Abd Ghani.
Agrobank Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin said the Government-linked company responded to Chan’s call as Sabah holds big potential and opportunities in the agriculture sector.
“We will be more active in providing more opportunities to entrepreneurs, farmers, breeders and fishermen in Sabah and to allocate financing which I believe is quite competitive as it goes through a Government channel compared to commercial ones.
“We want to encourage agriculture and agrofood growth in Sabah itself, there are a lot of opportunities here relating to agriculture because Sabah has a lot of land that we can expand on.
“We have allocated RM10 million at a rate of three per cent per year with a borrowing period of 10 years.
“This is to encourage more agriculture and agrofood endeavours in the younger generation that are interested to pursue this field, as it yields lucrative income to the entrepreneur while also ensuring the country’s food security,” he said.
Earlier, Chan launched Agrobank’s inaugural CNY Huat Ah national campaign which aims to encourage saving habits through the Extravaganza FRIA-i campaign and Win RM888 Angpau – Deposit Bonanza campaign.
“Agrobank’s services are not limited to loans that spur the agrofood sector, but also consumer products.
“The B40 group and small to medium enterprises are among those easily affected by economic fluctuations, hence Agrobank’s initiatives through the Huat Ah campaign is appropriate to instil a habit of saving among the community,” the Kota Kinabalu MP said.
Agrobank also conducted the “Huat Ah Shopping Spree” Corporate Social Responsibility programme which aims to alleviate the burden faced by students in Chinese schools (SJKC) from B40 families.
A total of 40 primary school students were given RM200 each for a shopping spree at Imago Mall and were also brought on an educational excursion to the Aquascape Centre to learn about marine life.
They were also given an additional RM100 ang pao each. Additionally, Agrobank donated a total of RM5,000 to the Comfort Aged Care Centre and RM100 ang pao to 15 senior citizens.
Meanwhile, Chan said MAFS will continue to monitor food shortages in the country and take measures to ensure it is sufficient, especially egg supply which faced a shortage as of late.
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