Govt to provide RM200mil in funds as agrofood loans at zero interest rate, says PM

Published on 26 Nov 2021 12:37:31 AM

The government will allocate RM262 million as an early response to assist farmers affected by the increase in the prices of fertilisers and pesticides, said Datuk Seri Ismail Sabri Yaakob.

The Prime Minister said that at the launching of the 7th National Farmers Organisation (NAFAS) Annual General Meeting (AGM) and dinner on Thursday (Nov 25), adding that of the amount, RM62 million would be channeled through NAFAS as an addition to the subsidy allocation and paddy incentive under Budget 2020, which amounts to a total of RM1.5 billion.

Meanwhile, RM200 million would be used as agrofood loan at zero interest rate, in addition to a six-month loan repayment moratorium under Tekun Nasional (TEKUN) and Agrobank for the benefit of affected vegetable and fruit growers.