KUALA LUMPUR – The Federal Land Development Authority (Felda) today inked a collaboration agreement with Agrobank for a new settlers development programme model (PPP) worth RM100 million.
The projects selected will involve the participation of successful industry players under the auspices of Agrobank.
“Each qualified settler or cooperative will receive a grant from Felda for cost of capital subject to a maximum value of RM20,000 based on an assessment by Agrobank. The operational cost will be financed by Agrobank, with the guarantee from Felda.
“Overall, the project collaboration targets the involvement of 100 settlers’ cooperatives and 500 individuals,” Felda chairman Datuk Seri Idris Jusoh told reporters at the PPP agreement signing ceremony here, today.
He said the PPP programme was expected to generate additional income of RM1,000 to RM1,500 for each settler in the form of annual dividends for cooperative projects, and RM500 to RM1,000 per month for individual projects.
To date, the projects that had been identified are MD2 pineapple farming, chilli cultivation using fertigation system, young ginger cultivation, and planting of other high-value crops in the future, he said.
Meanwhile, Agrobank chairman Datuk Mustapha Buang said the PPP project was able to open up new opportunities for the Felda community, enabling them to explore opportunities in the agriculture sector which have huge potential to generate lucrative incomes.
“Agrobank is consistently committed to driving development for target groups and local communities by providing comprehensive financing solutions...covering full value chain financing from supply of agricultural produce to processing and sales of agricultural products to consumers,” he said. – Bernama, March 15, 2021
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