KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has allocated nearly RM417 million to empower Indian entrepreneurs through various funding initiatives.
Deputy Minister Datuk Seri R. Ramanan highlighted that the allocation supports both existing and new programmes, including loans and matching grants.
In 2024, KUSKOP introduced the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) with RM50 million and the Business Accelerator Programme for Indian Small Business (i-BAP) under SME Corp, offering RM6 million in grants.
“These projects involve an additional RM136 million to scale up businesses at the national level,” Ramanan said in the Dewan Rakyat.
He was responding to a supplementary question from S. Kesavan (PH–Sungai Siput) on whether new initiatives, such as non-repayable grants, were included under the 13th Malaysia Plan (RMK-13).
For 2025, KUSKOP announced another RM50 million each for BRIEF-i, SPUMI Goes Big, and PENN, along with a new Vanigham Financing scheme for Indian entrepreneurs. “Most initiatives are low-interest loans, targeting those beyond the B40 group,” Ramanan said.
Regarding repayment performance, Ramanan noted that 7,074 recipients benefited from the PENN programme under Amanah Ikhtiar Malaysia (AIM), with a non-performing loan rate below 1%. TEKUN Nasional’s SPUMI initiatives disbursed RM88.1 million to 3,470 recipients, showing strong repayment records. – Bernama
