Recoda, Agrobank sign MoU on financing in SCORE area
KUCHING: Investors and farmers in the Sarawak Corridor of Renewable Energy ( SCORE) area will now have easier access to financing with the signing of a memorandum of understanding ( MoU) between Regional Corridor Development Authority ( Recoda) and Agrobank during Agrofest 2018 yesterday.
The signing of the MoU is to enable potential investors and agricultural entrepreneurs in the three development agencies under Recoda, namely Upper Rajang Development Agency ( Urda), Highland Development Agency ( HDA) and Northern Region Development Agency ( NRDA), to obtain special financing programmes.
It is also to facilitate the development of local agropreneurs to participate in commercial agriculture and the development of an agriculture supply chain in the area.
The MoU was signed by Recoda chief executive officer Datu Ismawi Ismuni and Agrobank chief strategic officer Mohamad Taufik Mahamad Zakaria.
The signing ceremony was witnessed by Deputy Chief Minister Datuk Amar Douglas Uggah Embas, who is also Minister of Modernisation of Agriculture, Native Land and Regional Development and HDA chairman.
“I am confident that the proposed financing programme by Agrobank will be beneficial in developing entrepreneurs among local people and agricultural communities in Sarawak,” Uggah said during the signing ceremony held at Penview Convention Centre Demak here yesterday.
He also said the initiative was in line with the state development plan to make Sarawak a highincome and advanced state by 2030.
“Collaboration such as this ( between Recoda and Agrobank) is important to support the state government’s agenda to transform rural development through dynamic and commercial agricultural activities,” he added.
Agrobank is a development financial institution that was established in 1969 to support the growth of the agriculture sector by providing comprehensive financing solution for upstream and downstream agriculture activities.
Among those in attendance were Recoda investment management division officer-in- charge Paul Ponar, Agrobank Sarawak Region director Syed Ibrahim Syed Mohd, former deputy chief minister Datuk Patinggi Tan Sri Alfred Jabu, Assistant Minister of Native Land Development Datuk Roland Sagah Wee Inn, Assistant Minister of Rural Electricity Datuk Dr Abdul Rahman Junaidi and Agrobank board of members director Datuk Dr Mohamad Hashim Ahmad Tajudin.