Budget 2027 allocates RM200 million for equipment and training, raises microfinancing to RM6.6 billion and expands financing for women and small businesses.
PETALING JAYA: The government has allocated RM200 million under the Sejahtera MADANI Grant to provide equipment and training for 40,000 recipients, particularly women, under Budget 2027.
Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim, when tabling Budget 2027 in the Dewan Rakyat today, said microfinancing would also be increased to RM6.6 billion next year to help small business owners boost their income.
Under Amanah Ikhtiar Malaysia (AIM), RM3 billion in financing would be made available to assist 360,000 entrepreneurs in 2027.
Anwar said Kelantan recorded the highest financing amount through AIM, while Sabah had the highest number of recipients.
The financing fund under TEKUN Nasional would also be increased to RM1.3 billion, with a focus on supporting Bumiputera entrepreneurs.
For the Indian community, financing under TEKUN and AIM would be increased to RM150 million to help small business owners expand their businesses.
Meanwhile, Bank Simpanan Nasional (BSN) would provide RM1.7 billion in microfinancing, with allocations specifically targeting youths, gig workers, hawkers and vulnerable groups.
In a separate measure to ease borrowing costs, basic credit cards would be introduced by banking institutions, with interest rates capped at 14% a year.
Anwar also expressed appreciation to Alliance Bank, Maybank and CIMB for offering the facility.
