Agrobank, FAMA Drive Agri-entrepreneur Growth With Micro-financing Scheme

KUALA LUMPUR, May 23 (Bernama) -- The Usahawan Tani Agrobank x FAMA Scheme was launched today to support agri-entrepreneurs by strengthening business operations, enhancing financial resilience and driving business growth.

The launch ceremony was officiated by Prime Minister Datuk Seri Anwar Ibrahim during a visit to the Taman Melawati Farmers’ Market here.

According to Agrobank Group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin, the scheme is a comprehensive package developed through a strategic collaboration between the bank and the Federal Agricultural Marketing Authority (FAMA).

He said the scheme encompasses financing, savings facilities, takaful protection, digital transactions and free training in financial management and marketing for entrepreneurs.

“This initiative reflects Agrobank’s commitment to providing relevant and inclusive financing facilities to the agro-food community, in line with its role as a development financial institution focusing on the agricultural sector and national food security,” he said in a statement.

Tengku Ahmad Badli Shah said Agrobank and FAMA are targeting 1,000 agri-entrepreneurs to benefit from micro-financing facilities under the initiative, with financing of up to RM100,000 per customer.

He said the scheme offers a profit rate as low as 2.5 per cent per annum, with applications open until 31 December 2026, subject to terms and conditions.

“The first 500 eligible customers who apply for the Usahawan Tani Agrobank x FAMA Scheme will receive micro-financing benefits as well as exclusive Agrobank products,” he said.

To support business digitalisation, he said Agrobank would provide 200 units of DuitNow QR SoundBox free of charge to selected eligible customers to encourage the use of Agrobank’s DuitNow QR, facilitate faster and safer payment confirmation and increase participation among agri-entrepreneurs and small traders in cashless transactions.

Tengku Ahmad Badli Shah expressed hope that the strategic collaboration with FAMA would also have a direct impact on agri-entrepreneurs through easier and Syariah-compliant access to financing.

“It is also hoped that this initiative will help strengthen the resilience of micro businesses and support the growth of the country’s agro-food sector in a more inclusive and sustainable manner,” he said.

The public can obtain more information by visiting www.agrobank.com.my or the nearest Agrobank branch.

-- BERNAMA