Bank Pembangunan offers RM5.6 Billion to help Economic Recovery

Bank Pembagunan Support Economic Recovery
Bank Pembangunan Chairman Nazir Razak

Bank Pembangunan Malaysia Bhd (BPMB) is committed to support the country’s economic recovery through five financing facility schemes totaling RM5.6 billion at preferential rates. The scheme targets key strategic sectors namely Digitalisation; Sustainability; Maritime & Logistics; Tourism; and Public Transportation.

BPMB welcomes viable projects and businesses in these eligible sectors to submit their applications. So far these schemes, previously announced by the Government, have seen a total of RM2.4billion approved for utilisation and RM3.2billion is still available for deployment.

BPMB’s Chairman, Nazir Razak said, “The COVID-19 pandemic has hit businesses and industries hard. As a development finance institution, BPMB will play a catalytic role to help businesses and the economy recover.“

The schemes are as follows:

RM1billion Industry Digitalisation Transformation Scheme for the transformation of Malaysia’s industrial capabilities by supporting the right ecosystem for Industry 4.0.

Sustainable Development Financing Scheme of RM 2 billion to support the government’s efforts to implement the 17 sustainable development goals under the United Nations development program 2030 agenda for sustainable development.

Maritime & Logistics Scheme to support the maritime related activities and services including aerospace and logistic activities totaling RM1.5billion.

Tourism Infrastructure Scheme totaling RM1billion established to provide financial help to existing and new companies dealing with or involved in tourism-related activities and services.

The RM 100 million Public Transport Scheme for increasing the utilization of public transport by funding improvements and growth of public transport coverage and services.

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