Minister: RM100mil allocated for agro-food cooperatives

PAPAR: A sum of RM100mil has been set aside to finance cooperatives involved in the agro-food sector, says Datuk Ewon Benedick.

The Entrepreneur Development and Cooperatives Minister said the financing, provided through the Revolving Capital Fund and managed by the Cooperative Commission of Malaysia (SKM), is an initiative by the government to help address the nation’s food supply and security.

“I encourage the community to establish their local cooperatives to engage in activities such as farming, animal husbandry, plantations and other agro-food sector activities.

“Cooperatives involved in the agro-food sector can help support the country’s food supply chain and food security,” he said in a statement after visiting a chicken farming site, developed by Koperasi Kinabalu Lestari Berhad (Kokina) in Kinarut, near here, Bernama reported.

Ewon said the company has started constructing a broiler chicken barn at a cost of RM450,000, funded by its members’ shares, and is expected to begin the first rearing cycle in July this year.

“That’s why I would like to offer financing assistance of RM100,000 under the Start-up Financing Scheme to Kokina as a show of support for this cooperative enterprise,” he said.

On a separate matter, Ewon said SKM registered 1,001 new cooperatives in 2023.

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