KUALA LUMPUR, July 13 (Bernama) - Agrobank has allocated RM200 million for a financing scheme to help eligible Federal Land Development Authority (Felda) settlers own their first homes under the Affordable Homes Programme-i.

In a statement, the bank said the scheme is a testament to Agrobank's dedication to empowering the settler community.

President and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said applications for the financing facility have been promising, totalling RM137 million to-date.

"Agrobank has approved around RM59 million, proving our commitment to helping Felda settlers to own a home," he said.

The strategic collaboration between Agrobank and Felda began in 2020, with positive results in empowering the well-being of settlers. 

Through the Felda New Generation Housing Financing Programme, Agrobank not only provides a large allocation for the Affordable Housing Programme-i but also improvises its financing terms for eligible applicants, it said. 

The collaboration was further strengthened in 2021 with the RM100 million Settler Development Programme (PPP), aiming at improving the socio-economic status of settlers holistically, said Agrobank. 

 - BERNAMA