5th Anniversary Dinner

Venue: Borneo Convention Centre Kuching, Sarawak

The establishment of Development Bank of Sarawak Berhad (“DBOS”) in May 2017, was the brainchild of the Premier of Sarawak, The Right Honourable Tan Sri Datuk Patinggi (Dr.) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg.

Tan Sri Datuk Amar Haji Mohamad Morshidi bin Abdul Ghani, Chairman of DBOS emphasised on DBOS' role and mandate through the theme “Strategic Financing Advancing Sarawak” during the 5th Anniversary Dinner. The theme is a representation of DBOS' mandate in ensuring that DBOS continues to play an active role in supporting Sarawak Government initiatives and in alignment with its Post Covid-19 Development Strategy 2020 (PCDS 2030).

Over the past 5 years, DBOS has delivered its mandate in funding strategic infrastructure projects. Among the key projects funded by DBOS across the entire Sarawak, notably the Coastal Roads Network, Second Trunk Roads, Sarawak Water Supply Grid, Rural Electrification Scheme and various infrastructure projects implemented under Integrated Regional Samarahan Development Agency (IRSDA), the Upper Rajang Development Agency (URDA), the Highland Development Agency (HDA), and the Northern Region Development Agency (NRDA).

These projects have created a significant impact by benefiting Sarawakians in terms of connectivity, linkages and accessibility across the vast region of Sarawak via roads and bridges, supplying clean, safe and reliable water, electricity lighting up our rural communities and spurring inclusive and sustainable economic development throughout Sarawak.

The Right Honourable Premier of Sarawak graced the 5th Anniversary Dinner and supported DBOS' future initiatives in undertaking Shariah-compliant banking business and green financing for sustainable development priorities as well as identifying opportunities for loan syndication.

DBOS' priority is to focus on its current mandate to fund strategic projects in the next few years and trusts that by then Sarawak will attain a high and desired level of infrastructure development and economic prosperity in line with PCDS 2030.

The Premier highlighted in his special address that Sarawak's financial position will continue to be strengthened to 2030 and beyond by leveraging on opportunities in the context of climate change action. Sarawak is identifying opportunities in the area of renewable energy, Carbon Capture Utilisation and Storage (CCUS) and carbon trading. The Premier also reiterated that Sarawak Sovereign Wealth Fund will be tabled in the next DUN Sitting, in November 2022. During the dinner, DBOS announced its sustainability initiative with a contribution towards the “Bring Back the Rainforest” habitat rehabilitation programme at Piasau Nature Reserve in Miri and signing a Memorandum of Understanding to explore collaboration on rewilding projects spearheaded by Sarawak Forestry Corporation (SFC).

Source of News: Development Bank of Sarawak Berhad