Special Initiative Under SME Bank Worth RM900 Mil To Help Local SMEs

SME Bank in collaboration with TERAJU and Bank Simpanan Nasional as announced during the recent Budget 2022 presentation by the Minister of Finance is offering equity and quasi-equity funding initiatives worth RM600 million to help Small-medium enterprises (SMEs) to increase their participation in national development activities on a larger scale.

In addition, SME Bank will also allocate another RM200 million under the IBS Promotion Fund (IBS 2.0) initiative and RM100 million under the Young Entrepreneur Financing (YEF 2.0) programme to continue helping targeted groups grow their businesses in the post-Covid-19 redevelopment agenda.

Minister of Entrepreneur Development and Cooperatives, YB Tan Sri Noh said initiatives under the 2022 Budget involving SME Bank was a testament to the importance of the function played by the Bank as the Development Financial Institution (DFI), which was directly involved in the national development agenda.

Meanwhile, Group President/Chief Executive Officer SME Bank, Aria Putera Ismail, said that SME Bank welcomes all the initiatives announced during the presentation of Budget 2022 and they are ready to implement the mandate entrusted to them – which is to nurture and develop the SMEs.

He further said it is necessary to broaden the range of fund-raising options available to SMEs and entrepreneurs in order to enable them to continue to play their role in investment, growth, innovation and employment.

Special Initiative Under SME Bank Worth RM900 Mil To Help Local SMEs

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