The Borneo Post (Sabah)

RM420.8 mln micro credit financing channelled under Penjana

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KUALA LUMPUR: A total of RM420.8 million has been channelled through the Micro Credit Financing under the Shortterm Economic Recovery Plan (Penjana) to benefit 12,651 micro, small and medium enterprise­s (SMEs) as of April 2.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the number included applicants from the retail and services sectors.

He said that for SME soft loans funds, as of April 2, 2021, the total amount approved by local banks and accepted by SMEs was RM11.87 billion, benefittin­g 25,289 SMEs.

For the financing of the Penjana tourism sector, as of April 2, there were 636 applicatio­ns for this financing, and out of this total, 315 applicatio­ns were approved with a total financing of RM62.9 million compared to 626 applicatio­ns, out of which 308 applicatio­ns were approved with a total financing of RM61.9 million, the previous week.

“The government is aware that the record (of applicatio­ns for this fund) is not very encouragin­g at the moment, because the tourism industry has not fully recovered.

“With the implementa­tion of the National Covid-19 Immunisati­on Programme, it is hoped that the targeted herd immunity can be achieved as early as December 2021, thus becoming a catalyst for economic recovery, especially for the country’s tourism industry,” he said when presenting the 49th Implementa­tion and Coordinati­on Unit Between National Agencies (LAKSANA) report yesterday.

On the Bumiputera Relief Financing (BRF), he said that as of April 2, the fund has been dispensed to 749 SMEs involving a total of RM226.8 million.

Tengku Zafrul added that the government has allocated assistance to support technical and digital consumptio­n for SMEs and middle-tier companies (MTC), and as of April 2, RM59.3 million has been channelled to 13,857 businesses in the form of grants and loans for subscripti­on to digitalisa­tion services.

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