Finance Minister II Datuk Seri Amir Hamzah Azizan said the government has approved more than RM1.7 billion in financing since mid-May to help micro businesses and small and medium enterprises (SMEs) cope with rising operating costs.
He said the government has allocated over RM5 billion in microfinancing through Amanah Ikhtiar Malaysia (AIM), Agrobank, Bank Simpanan Nasional (BSN), Bank Rakyat, MARA and TEKUN Nasional to ensure micro entrepreneurs can continue operating despite higher costs.
Between May 15 and June 26, more than RM500 million in microfinancing was approved, benefiting over 30,000 entrepreneurs by providing much-needed working capital.
Amir Hamzah said the government has also launched the RM5 billion MADANI Government Guarantee Scheme through Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) to improve financing access for SMEs.
From May 15 to June 30, SJPP approved RM219 million in financing guarantees for more than 300 SMEs, particularly in the agriculture, construction, logistics and tourism sectors.
He added that SJPP is working with banks to facilitate loan restructuring, repayment rescheduling and targeted repayment assistance to help businesses navigate current economic challenges.
Separately, Bank Negara Malaysia has made available RM5 billion under its SME Stabilisation Relief Facility (SME SRF).
Since the facility was introduced in mid-May, nearly RM1 billion has been approved for more than 1,500 SMEs, while about RM4 billion remains available to support further applications.
