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SHAH ALAM – Microfinancing will be increased to RM6.6 billion in 2027 to help small entrepreneurs expand their businesses.
Finance Minister Datuk Seri Anwar Ibrahim said this included RM150 million in financing for Indian entrepreneurs through the National Entrepreneurial Group Economic Fund (TEKUN) and Amanah Ikhtiar Malaysia (AIM).
Under the sixth thrust, aimed at expanding economic potential, Anwar said microfinancing was one way to help small entrepreneurs increase their income through business.
Anwar also said the government would provide RM200 million in Sejahtera MADANI grants for equipment and training to benefit 40,000 recipients, particularly women.
“I have personally seen how equipment assistance has benefited a mother in Penang who is skilled in sewing.
“Sometimes, people have the skills but lack the capital to buy equipment such as sewing machines or ovens,” said the Prime Minister when tabling the 2027 Budget.
He said Kelantan recorded the highest financing amount through AIM, while Sabah had the highest number of recipients.
Next year, AIM would have RM3 billion in financing available to assist 360,000 entrepreneurs.
The financing allocation for TEKUN would also be increased to RM1.3 billion, with a focus on supporting the development of Bumiputera entrepreneurs.
Meanwhile, Bank Simpanan Nasional (BSN) would provide RM1.7 billion in microfinancing, with specific allocations for youths, gig workers, hawkers and vulnerable groups.
