Bank Pertanian: RM463m for eastern corridor jobs

Monday, March 03, 2008
BANK Pertanian Malaysia is setting aside nearly a fifth of its RM2.66 billion total loan budgeted for
disbursement this year for projects related to the East Coast Economic Region (ECER).
“For 2008, a loan approval budget of RM462.7 million has been allocated for the ECER. This accounts
for 17.4 per cent of the total loan approval budget of RM2.66 billion for the nation,” Bank Pertanian
general manager Martini Osman said in a statement.
A total of RM147.7 million or some 17 per cent of the allocated loan amount for ECER projects in
2008 was approved last November and December.
“For the months of November and December 2007, loans amounting to RM25.3 million were
disbursed to 3,975 entrepreneurs in various agricultural sectors in Kelantan, Terengganu and
Pahang,” she said.
As the present loan facilities can meet the financing needs of all agricultural initiatives under ECER,
no specific allocation is made to the ECER, she added. All states and branches are given yearly loan
budgets.
“Annual loan budget allocation to the states and branches in the ECER are based on the agricultural
activities earmarked in the respective operation areas,” said Martini.
Regular monitoring and periodic reviews are carried out to ensure loan targets are met, she added.
For 2008, loan approval targets for Kelantan, Terengganu and Pahang are RM139 million, RM133.7
million and RM189.2 million respectively.
— Business Times Online