In total, a total of RM14.2 billion is made available to SMEs.
For the continued availability of funds, BNM’s special funds, especially the Targeted Relief and Recovery Facility, have been increased by 2 billion ringgit and bring the total availability of various BNM SME funds currently at 11.2 billion ringgit.
In addition, says Min of Finance Tengku Zafrul Aziz, financial institutions such as SME Bank, PUNB, BPMB, AgroBank, MIDF and MARA also provide funds for SMEs.
A specific initiative to assist companies listed on the Exchange will also be introduced.
This initiative aims to help companies that are viable but affected by the COVID-19 pandemic get an injection of additional funds through a Government-owned SPV in the form of equity instruments or other related instruments.
For this purpose, Khazanah Nasional Berhad will be given the mandate to assist the Government in providing the infrastructure to administer a fund of at least 3 billion ringgit.
To date, the Business Financing Guarantee Company has provided business financing guarantees worth more than 46 billion ringgit to more than 44 thousand companies. It has helped make it easier for SMEs to obtain financing, especially during this difficult period.
Therefore, SJPP will be improved by providing guarantees for scheduled and restructured financing with an additional guarantee limit of 10 billion ringgit.To date, the Business Financing Guarantee Company has provided business financing guarantees worth more than 46 billion ringgit to more than 44 thousand companies.
It has helped make it easier for SMEs to obtain financing, especially during this difficult period. Therefore, SJPP will be improved by providing guarantees for scheduled and restructured financing with an additional guarantee limit of 10 billion ringgit.
