Central Region News July 13, 2012 16:36 PM Agrobank Eyes Disbursing RM50 Million In Loans With Launch Of New Product TANJONG KARANG, July 13 (Bernama) -- Agrobank expects to disburse at least RM50 million in loans with the launch of its latest product, Paddy-i, which is aimed at reducing the financial burden of the padi farmers in the country. Its president/chief executive officer, Wan Mohd Fadzmi Wan Othman, said the target involved signing up 10,000 borrowers nationwide. "Paddy-i and another new product, Paddy Cash-i, which are syariah-compliant, can be used not only for padi planting but also the personal need like the education for the children," he said at a media briefing after the launch of the two products by Agriculture and Agro-based Industry Minister, Datuk Seri Noh Omar, here Friday. Also present was chairman of Agrobank, Tan Sri Faizah Mohd Tahir. Wan Mohd Fadzmi said Paddy-i was an enhancement over the conventional padi credit scheme which offered revolving capital financing of up to RM2,500 per hectare with total funding ranging from RM1,000 to RM50,000. -- BERNAMA