Agrobank's Trader Engagement Sessions Attract Over RM8 Mln In Financing Applications
KOTA KINABALU, July 5 (Bernama) -- Agrobank has received financing applications totalling more than RM8 million through its series of engagement sessions with hawkers and micro-entrepreneurs to date, underscoring the positive response to the bank's on-the-ground efforts to expand access to financing for small businesses.
In a statement today, Agrobank said the on-the-ground initiative has been expanded to Sabah through engagement sessions at the Api-Api Night Market on Jalan Gaya here and the Papar Tamu Farmers' Market, following similar sessions held at several farmers' markets across the Klang Valley.
It said the engagement session with traders and hawkers at the night market had focused on identifying suitable financing needs, particularly to support working capital and business expansion.
The engagement sessions mark a significant step for Agrobank in extending the initiative to Borneo, in line with its efforts to ensure financial support is delivered more directly and is more accessible to traders who need it.
The session held at the Api-Api Night Market saw the bank reaching out to 153 hawkers and entrepreneurs, while the session at Tamu Papar Farmers’ Market involved 95 traders.
Both locations were selected due to the role of night markets and farmers’ markets as key drivers of local economic activity.
The engagement session was also observed by Finance Minister II, Datuk Seri Amir Hamzah Azizan.
Agrobank Group president and chief executive officer, Datuk Tengku Ahmad Badli Shah Raja Hussin said the expansion of the engagement sessions to Sabah underscores the bank’s commitment to extending financial initiatives beyond major urban centres to small business communities across the country.
“Agrobank’s presence in Sabah is an important step to better understand the needs of small traders in Borneo.
“Every business community faces different challenges and needs. Hence, our on-the-ground approach allows us to provide explanations and support that are better aligned with their business realities,” he said.
He added that Agrobank aims to ensure that hawkers and micro-entrepreneurs have easier access to capital, financial advisory services and non-financial support to help them manage and grow their businesses in a more structured and sustainable manner.
The engagement session was also in line with Prime Minister Datuk Seri Anwar Ibrahim’s directive for financial agencies to step up outreach efforts and accelerate the disbursement of RM5 billion in financing to small traders.
-- BERNAMA