MDV commits over RM50m fund to National Fiberisation vendor programme

KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV) has committed more than RM50 million of funds to the National Fiberisation and Connectivity Plan-Vendor Development Programme (NFCPVDP) to support the development of digital economy.

Chief executive officer Nizam Mohamed Nadzri said MDV provides financing access in underserved areas within its mandate, specifically for projects undertaken by technology small and medium entreprises and startups.

“NFCP-VDP aims to bridge the financing gap small companies face that may hinder the success of NFCP-VDP plan,” he said yesterday.

The programme is tailored to match financing requirements of eligible technology companies that undertake projects related to NFCP-VDP.

With up to RM5 million in financing limit per application, the programme offers competitive financing rates, simplified approval processes, customised facility structure based on contract requirements of each project as well as credit guarantee.

The programme caters to the financing needs of sub-contractors of anchor companies in completing their work such as the laying of fibre cables, cabinets, pedestal boxes, civil works including plinth, roadworks and trenching.

It has financed more than 880 projects in ICT, green technology, biotechnology and emerging technology with RM11.8 billion.

MDV has also helped to finance the building of more than 5,900 3G and 4G towers in Malaysia.

It is the only financier in Malaysia offering Venture Financing, syariah-compliant equivalent of the venture debt models used by more developed markets, for high-growth venture capital-backed technology startups.