Prime Minister Anwar Ibrahim announces an extra RM5 billion in loan guarantees, doubling support for SMEs, smallholders, and hawkers impacted by global instability.
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim has announced an additional RM5 billion facility under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme.
This new allocation is specifically aimed at assisting micro, small and medium enterprises facing the impact of the West Asia crisis and global energy pressures.
The latest injection brings the total facility under the scheme to RM10 billion.
Anwar stated that Bank Negara Malaysia’s governor will provide the detailed mechanics of this additional facility soon.
He emphasised that the assistance must reach smaller companies, agricultural groups, smallholders, fishermen, and hawkers operating small stalls and restaurants.
“This facility is to help drive growth and also act as a catalyst for companies in need,” Anwar told a press conference.
The announcement follows a roundtable session with 20 representatives from financial institutions.
As Finance Minister, Anwar had previously announced an initial RM5 billion guarantee allocation under the SJPP.
The enhanced scheme now offers financing coverage of up to 80%, increased from 70%.
The guarantee period has also been extended to up to 10 years, compared to the previous seven years.
Sectors targeted for support include construction, agriculture and agri-food, logistics and transportation, and tourism.
