The government has allocated a record RM254 million for 28 cooperative development programmes this year, marking its highest-ever commitment to the sector.
KUALA LUMPUR: The RM254 million allocation for 28 cooperative development programmes this year is the highest ever since the country’s cooperative movement began.
Entrepreneur and Cooperatives Development Minister Steven Sim said the funding, channelled through the Malaysia Co-operative Societies Commission (SKM), represents a 167% increase from last year.
He said this underscores the MADANI Government’s commitment to making cooperatives a key driver of the people’s economy.
“The funds will be channelled in the form of grants and financing to support the cooperative movement and its strategic initiatives throughout 2026,” Sim said at a press conference.
RM226 million of the total will be distributed through the SKM Revolving Capital Fund financing.
This covers eight programmes aimed at supporting working capital, business expansion, and boosting market competitiveness.
The remaining RM27.9 million will be channelled as grants through 20 programmes under various funds.
The grant focus includes digitalising operations, adopting green technology, strengthening export capabilities, and supporting business recovery.
Sim said the allocation reflects the ministry’s commitment to strengthening cooperatives as a strategic pillar of national socio-economic development.
This initiative is in line with the objectives of the 13th Malaysia Plan.
