Export-Import Bank of Malaysia Berhad (EXIM Bank) welcomed the Government’s recently tabled Budget 2021 as it lives up to its theme of Resilient As One, Together We Triumph. The budget continues to protect the Rakyat’s lives and livelihood above all else, amid the backdrop of the Covid-19 pandemic.
Aware of the challenges faced by the business community in the country, EXIM Bank expressed their support for the various initiatives outlined by Finance Minister Tengku Zafrul Abdul Aziz in his budget speech, particularly on the measures to improve access to financing in the budget.
Among them is the introduction of a National Supply Chain Finance Platform (Jana Niaga), which is set to assist the financial position of Small and Medium Enterprises (SMEs) that supply to the Government or Government-Linked Companies (GLCs). An initiative to be spearheaded by EXIM Bank, the platform will benefit SMEs with cash flow issues due to long invoice payment periods, as well as help them secure loans.
“The bank thanks the Government on the opportunity rendered to spearhead the access to financing initiative, through the Jana Niaga Platform, in ensuring the well-being of SMEs in the country. This targeted assistance will surely support them to continue operations, with an uninterrupted ability to supply to their customers,” EXIM Bank’s Chairman Feizal Mustapha stated.
The RM300 million Jana Niaga initiative will see EXIM Bank lead the said platform, with the involvement of several financial institutions. For a start, Jana Niaga will be implemented together with Petroliam Nasional Bhd (Petronas) and Telekom Malaysia Bhd.