Entrepreneurs and cooperatives hit by floods can access moratoriums, grants and loans through KUSKOP agencies to aid recovery
PUTRAJAYA: The Entrepreneur and Cooperatives Development Ministry (KUSKOP) has intensified support for entrepreneurs and cooperatives affected by recent floods.
Its agencies are rolling out relief measures, including financial moratoriums, to ease the burden on businesses.
Bank Rakyat is offering moratoriums of up to six months for individual and business customers impacted by the disaster.
The moratorium applies to various financing products including personal, housing, vehicle and education loans.
Bank Rakyat has also contributed essential items worth RM40,000 to flood victims at temporary relief centres.
TEKUN Nasional has introduced four assistance initiatives, including a three-month moratorium and loan rescheduling.
It also offers savings withdrawal facilities and capital injection options to help restore business operations.
SME Corp Malaysia has activated the KUSKOP Emergency Fund targeting SMEs, informal businesses and affected individuals.
Support includes up to RM5,000 for repairs to business premises, machinery or equipment.
Grants of up to RM5,000 are available for small and micro businesses facing a decline in sales.
Welfare assistance provides cash aid of up to RM500 for affected B40 households and persons with disabilities.
Disaster relief grants of RM500 are also available through this scheme.
Amanah Ikhtiar Malaysia (AIM) has approved moratoriums worth RM3.48 million for 13,189 entrepreneurs as of November 27.
This initiative aims to stabilise cash flow during the post-flood recovery period.
SME Bank is offering financing through its Relief and Adaptation Facility.
Loans range from RM100,000 to RM1 million to help SMEs manage cash flow and adjust operations.
The Co-operative Societies Commission of Malaysia (SKM) has launched two emergency assistance schemes.
The Co-operative Emergency Relief Fund offers up to RM3,000, while the Emergency Assistance Fund provides up to RM30,000.
Perbadanan Nasional Bhd has distributed 100 food baskets, valued at RM100 each, as initial aid.
The ministry hopes these initiatives will speed up recovery for entrepreneurs, SMEs and cooperatives.
It aims to ensure the continuity of economic activities in the post-disaster period.
Affected individuals are urged to contact relevant KUSKOP agencies for more information. – Bernama
