MDEC and CIMB Islamic offer financing for AgTech

Communications and Multimedia Minister Datuk Saifuddin Abdullah (pic) said this collaboration was important to ensure digital technology could be applied quickly as part of Malaysia’s efforts to advance the digital economy in line with the Malaysia Digital Economy Blueprint (MyDigital).

CYBERJAYA: The Malaysia Digital Economy Corp (MDEC) and CIMB Islamic Bank are providing RM25mil micro-financing as an initial funding package to drive the country’s agriculture ecosystem based on digital technology (AgTech).

Starting with an allocation of RM10mil, the programme offers funding of RM20,000 per applicant that will benefit 500 people and encourage farmers to adopt the use of technologies such as artificial intelligence (AI), big data analytics (BDA) and Internet-of-things (IoT)-based applications.