KUALA LUMPUR: The government has set aside a total of RM40 billion in funds to help businesses recover from the impact of the Covid-19 pandemic.
Prime Minister Datuk Seri Ismail Sabri Yaakob said the funds were not only for the formal sector but also the informal.
“As businesses start to utilise the funds, that are part of Budget 2022, about 600,000 jobs are expected to be created.
“It will help to reduce the income disparity among businesses,” he said at the launch of the SemarakNiaga Keluarga Malaysia initiative.
Ismail Sabri said micro, small and medium enterprises (MSME) play an important role in the economy, and the government is committed to helping
them.
“To assist MSME, the government has set up an Informal and Micro Financing Scheme, which will offer loans of up to RM10,000 at zero interest, with priority given to informal-sector traders.”
He said the fund size for this programme is RM200 million.
He added that for those involved in the agro-food industry, the AgroBank is offering a micro-credit financing scheme offering up to RM75,000 at zero interest for the first six months as well as moratorium facilities of up to six months.
Ismail Sabri said the government, through this scheme, will arrange for direct loans, financing guarantees and equity injections.
“All these are above and beyond other economic assistance initiatives such as the Bantuan Banjir Keluarga Malaysia.
“This reflects the principles espoused by the government to ensure that no one would be left behind.”
Ismail Sabri expressed hope that the programme would help the MSME community to recover and restructure their businesses for a better future.
He added that he had recently visited Muadzam Shah in Pahang and had the opportunity to speak with small and big business entrepreneurs.
“It was by mingling with them that I realised how important they are in creating employment opportunities.”
