The Entrepreneur and Cooperatives Development Ministry (KUSKOP) on Thursday (August 3) announced an additional fund of RM200 million for financing informal and micro entrepreneurs under Tekun Nasional.
Its minister, Datuk Ewon Benedick said, the addition of funds aimed at helping more informal and micro entrepreneurs in their businesses, increased the allocation this year to RM800 million.
“So we agreed to add another RM200 million in funds and increase this year’s allocation to RM800 million with the additional funds using internal allocations which are the result of collecting repayments from borrowers.
“Hopefully the increase can help more informal and micro entrepreneurs in business and our target is more than 36,000 borrowers to benefit from the additional funds, they can borrow between RM10,000 to RM100,000,” he told reporters.
Ewon was met after officiating the Entrepreneurs’ Meeting at Dewan Wisma Al-Ansar Masjid Al Muhajirin, Bukit Mertajam, which was also attended by Kekun Nasional Chairman Abdullah Sani Abdul Hamid and more than 1,000 Penang entrepreneurs.
Commenting further, Ewon said throughout the 25 years of operation, various agendas and programs have been implemented by TEKUN Nasional to benefit informal and micro entrepreneurs throughout the country.
He said Tekun Nasional also diversified its financing products to meet the needs and give options to entrepreneurs in the field of entrepreneurship.
“Since its establishment in 1998 until last July, Tekun Nasional has channeled financing to 563,442 entrepreneurs with a value of RM8.57 billion nationwide, while in Penang a total of 23,938 entrepreneurs have received the benefits of TEKUN Nasional financing amounting to RM313 million,” he said.
He said, Tekun Nasional will continue to commit to helping informal and micro entrepreneurs in providing financing and development of entrepreneurs.
At the ceremony, a total of 29 Penang Kekun entrepreneurs received funding checks with a total of RM460 million.
