GEORGE TOWN: The Penang state government has allocated a RM200,000 MADANI Mutiara Grant this year to empower the local cooperative sector.
State Agrotechnology, Food Security and Cooperative Development Committee chairman Fahmi Zainol stated the grant aims to revive inactive cooperatives and assist small ones in expanding their business potential.
He confirmed the state government approved the same grant amount last year, distributing it to 60 cooperatives statewide.
Fahmi described the grant as an early boost for cooperatives in need, offering a maximum of RM5,000 per cooperative to serve as reactivation capital.
He highlighted that the state government also provides non-financial assistance like management training, marketing support, infrastructure, and digitalisation modules.
Fahmi urged all state cooperatives to apply for the MADANI Mutiara Grant to enhance their projects for members’ economic and social well-being.
Applicants must meet basic requirements including registration with the Malaysia Co-operative Societies Commission (SKM) and having active bank accounts.
Cooperatives must also have held their annual general meetings and possess viable economic project plans to qualify for the grant. – Bernama