Zafrul: RM 2.7 billion loans approved for SMEs
KUALA LUMPUR: Loans totaling RM 2.7 billion approved for more than 5,000 small and medium enterprises (SMEs) through April 15 under three easy finance facilities for SMEs administered by Bank Negara, said Finance Minister Tengku Datuk Seri Zafrul Aziz.
The facilities are the RM 5 billion Special Relief Facility, the RM 1 billion Agribusiness Facility, and the RM 300 million SME Automation and Digitization Facility.
“Of the 6.3 billion RM available until April 15, 2020, loans totaling 2.7 billion RM for more than 5,000 SMEs with a financing rate as low as 3.5% have been approved by banks participating countries.
“This was up from 1.5 billion ringgit for 3,000 SMEs the previous week,” he said in the second report on the implementation of the Prihatin Rakyat Economic Stimulus Program (PRIHATIN) by the Inter-Agency Economic Stimulation Implementation and Coordination Unit (LAKSANA).
With government guarantee coverage of up to 80%, banks would be incentivized to ease the process of approving loan applications and approvals would continue to increase over the coming week, Tengku Zafrul said.
“I hope that the beneficiaries will fully benefit from the facilities. For those interested, they can contact local banks for more information, ”he added.
LAKSANA was created to track, monitor and ensure that the economic stimulus plans introduced by the government are implemented and benefit all levels of society. – Bernama