KUALA LUMPUR: The amount of government loan facilities and guarantees available to benefit local entrepreneurs will increase to RM50 billion next year from RM40 billion, said Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also the Finance Minister, said more than RM2.5 billion in microloans is being provided, including through Bank Simpanan Nasional (BSN) and the National Entrepreneurial Group Economic Fund (TEKUN).
“The government guarantee allocation under Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) has been increased to RM30 billion from RM20 billion,” he said while presenting the 2025 Budget in the Dewan Rakyat today.
The prime minister said that in addition to guaranteeing high-value sector companies, the SJPP’s scope has been expanded to cover micro-entrepreneurs.
He said that allocations to the Malaysian Cooperative Commission amount to RM50 million as financing funds to support cooperative enterprises nationwide.
Meanwhile, to broaden access for small and medium enterprises (SMEs), Bank Negara Malaysia’s (BNM) funds will shift to guarantee-based support, focusing on segments with limited financing access and high-impact activities such as digitisation, automation, innovation, and the green transition.
The Prime Minister said micro, small, and medium enterprises (MSMEs) are encouraged to adopt technology and digitalisation.
Anwar elaborated that development financial institutions (DFIs) would provide nearly RM1 billion in financing and grants to support process automation and the digitisation of business operations. – Bernama
