Agrobank to boost sustainable digitalisation in agriculture
By Digital News Asia October 15, 2021
- To provide holistic financial solutions, banking services to agriculture community
- Aims to support nation’s agenda in modenising agriculture sector
Malaysia's Agrobank plans to provide holistic financial solutions and banking services to various segments of the agriculture community.
In a statement, the bank said that as a development financial institution (DFI) with a primary focus of strengthening the agriculture sector in Malaysia, it aims to support the nation’s agenda in modernising the agriculture sector through various funds.
These funds come from from the ministry of agriculture and food industry for the development of the agriculture value chain such as the financing of vessel modernisation for fishermen, it said.
President and chief executive officer (CEO) Khadijah Iskandar said this is part of the bank’s vision to sustain the agriculture industry through comprehensive financing solutions while supporting the acceleration and adoption of modern agricultural practices.
She added that the bank has collaborated with Malaysia Technology Development Corporation to provide financial assistance amounting RM10mil (US$2.4mil) to support 200 entrepreneurs in the agriculture sector for the purpose of accelerating IR 4.0 technology practices into the agriculture sector.
“Collaboration with agencies and technology providers in accelerator programmes through sandboxing activities have been installed in our pipeline.
“We want to do more than just the traditional financing and work with partners that support the government’s agenda in modernising the agriculture sector,” said Khadijah.
Khadijah spoke at a Agrotalk webinar session entitled ‘Entrepreneurship in Malaysia – Redesigning Business Models for the Digital Economy’, together with Afiq Nazary, CEO of My Fundaction and Bikesh Lakhmichand, CEO and founding partner of 1337 Ventures, where they shared insights related to agriculture and digitalisation.
The playback of Agro Talk can be viewed on Agrobank official YouTube channel - AgrobankTV and official Facebook page.
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