Agrobank’s iTEKAD Empowers Agropreneurs Through MD2 Pineapple Farming

KANGAR, Aug 17 (Bernama) — Agrobank remains committed to empowering the asnaf (tithe recipients)  and B40 groups through the disbursement of iTEKAD grants amounting to RM100,000 to 20 selected agropreneurs for the implementation of the MD2 pineapple planting project in Chuping near Padang Besar yesterday.  

Agrobank President and Group Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin said a total of 20 participants comprising the B40 group and military veterans received a grant of RM5,000 each to support the purchase of additional equipment for cultivating a five-acre plot of land rented from Felda Global Ventures (FGV).  

“This project is part of the collaboration between Agrobank and Aqina Fruits Sdn Bhd, which also involves the implementation of pineapple cultivation projects in several other locations, namely in Beaufort and Pekoti.  

“For the projects in Chuping and Beaufort, the total allocations are RM6 million each, while the project in Pekoti received the highest allocation of RM12 million,” he said in a statement.  

Tengku Ahmad Badli Shah said that overall, the collaboration between Agrobank and Aqina Fruits through the contract farming project under the B40 model received a total funding allocation of RM24 million. 

He said Agrobank, as a development financial institution, provides financing facilities of up to RM280,000 for each participant of the pineapple planting project to cover initial capital.  

He added that the MD2 pineapple cultivation project is among Agrobank’s continuous efforts to strengthen the socio-economic development of the people, particularly among the lower-income group.  

“In addition, it also serves to stimulate the growth of the agricultural sector and increase the production of pineapples in the country to meet domestic market needs as well as the export potential abroad,” he said.  

Meanwhile, through the iTEKAD initiative, several programmes have been introduced such as the MAINJ Micro Entrepreneur Financing Programme, the BERNAS Farm Partner Programme, the Oil Palm Replanting Scheme, as well as the Vessel Modernisation and Catch Mechanisation Programme.  

He said these programmes focus on the social development of entrepreneurs among the asnaf and B40 groups through the combination of three main components, namely the provision of seed capital, micro-financing and financial training. 

— BERNAMA

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