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JOHOR BARU – The state’s financing scheme to help micro, small and medium enterprises (MSMEs) in Johor is expected to be finalised next month, Menteri Besar Datuk Onn Hafiz Ghazi said.
He was also optimistic that the scheme, through discussions with Bank Rakyat, would be able to further stimulate the state’s economy.
“After discussions with Bank Rakyat, the state government has agreed to facilitate the Johor State Financing Scheme for MSMEs and ensure the continuity of this segment’s businesses.
“The loan financing is from RM50,000 to RM500,000. To continue helping entrepreneurs, the state government will bear 100% of the loan interest rate for micro enterprises and almost half of the interest rate for SMEs,” he said in a statement today.
Onn Hafiz said the cooperation with the bank, which has assets of more than RM115 billion and is an agency under the Entrepreneur Development and Cooperatives Ministry, would help drive the state’s economy and further elevate the performance of other industries.
“The state government views the challenges faced by MSMEs seriously. We hope this initiative will become a catalyst that enables them to continue expanding in the future,” he said. – Bernama, January 27, 2023