Chuping: 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.
According to BERNAMA News Agency, Agrobank President and Group Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin announced that a total of 20 participants from the B40 group and military veterans received a grant of RM5,000 each. This support is aimed at facilitating the purchase of additional equipment necessary 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,” he stated. For the projects in Chuping and Beaufort, the allocated funds amount to RM6 million each, while the project in Pekoti has secured the highest allocation of RM12 million.
Tengku Ahmad Badli Shah highlighted that the collaboration between Agrobank and Aqina Fruits, through the contract farming project under the B40 model, has received a total funding allocation of RM24 million. Agrobank, as a development financial institution, is providing financing facilities of up to RM280,000 for each participant of the pineapple planting project to cover initial capital.
The MD2 pineapple cultivation project is part of Agrobank’s ongoing efforts to bolster the socio-economic development of the lower-income group. Additionally, it aims to stimulate the growth of the agricultural sector and enhance the production of pineapples in the country to meet both domestic market needs and export potential.
Meanwhile, through the iTEKAD initiative, several programmes have been rolled out, including the MAINJ Micro Entrepreneur Financing Programme, the BERNAS Farm Partner Programme, the Oil Palm Replanting Scheme, and the Vessel Modernisation and Catch Mechanisation Programme. These programmes are designed to focus on the social development of entrepreneurs among the asnaf and B40 groups, combining seed capital provision, micro-financing, and financial training.