MDEC seeks banks’ pledge

(Second from left to third from right) YB Datuk Wira Dr Hj. Rais Hussin Mohamed Ariff, Chairman, MDEC; YB Dato’ Sri Hj. Mohammad Mentek, Secretary-General, Ministry of Communications and Multimedia Malaysia; and Surina Shukri, CEO, MDEC with members of the newly unveiled “Geng #SayaDigital” and #SayaDigital participants on April 12 2021.

KUALA LUMPUR: Malaysia Digital Economy Corp (MDEC) is working to get more banks to provide microfinancing for farmers in driving the country’s agriculture ecosystem based on agricultural technology (AgTech).

Chairman Datuk Rais Hussin Mohamed Ariff said CIMB Islamic Bank had pledged RM25mil earlier this month to encourage farmers to adopt the use of technologies such as artificial intelligence (AI), big data analytics and Internet-of-things (IoT)-based applications.

“When we did our proof of concept on digitising fertigation and IoT-enable fertigation, we found out in terms of yield, it goes up by 33%, while farmers can also get more than 20% income increase with the use of AgTech. — Bernama

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