Additional RM3bil allocation for SMEs to be disbursed

  • Business
  • Tuesday, 04 Jan 2011

KUALA LUMPUR: Disbursement of the additional RM3bil Working Capital Guarantee Scheme (WCGS) allocation under 10th Malaysia Plan (10MP) will commence immediately, said Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP).

Prokhas managing director-cum-principal officer of SJPP Fazlur Rahman Ebrahim said the additional allocation will provide an avenue for small and medium enterprises to expand their business.       

“Those who are eligible and interested can submit their applications through the participating banks effective immediately,” he said in a statement yesterday.

The scheme was first introduced in the second stimulus package in March 2009. It was fully utilised by year-end, despite being topped up from RM5bil to RM7bil.

In the view of encouraging response to the scheme, the Government provided an additional RM3bil under the 10MP, making it total of RM10bil.

The allocation would receive good response from those in the related industries and from participating banks in promoting the guarantee scheme, the statement added.

SJPP is wholly-owned by the Minister of Finance Inc and its role is to administer and manage two guarantee schemes, namely WCGS and the Industry Restructuring Financing Guarantee Scheme. — Bernama

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