Entrepreneur Development Ministry defers RM128.6mil repayment for microcredit loans

PUTRAJAYA: The Entrepreneur Development and Cooperatives Ministry has decided to postpone repayments totalling RM128.6mil for microcredit and entrepreneurial loans involving micro, small and medium enterprises (SME) entrepreneurs in states affected by floods last month.

Minister Datuk Ewon Benedick (pic) said the postponement would involve 65,596 SME entrepreneurs or borrowers in Kelantan, Terengganu, Pahang and Sabah.

He said the affected entrepreneurs who took loans through agencies under the ministry can apply for a deferment of up to six months.

The agencies involved are Amanah Ikhtiar Malaysia (AIM), SME Corp Malaysia, TEKUN Nasional, Bank Rakyat and the Malaysian Cooperative Societies Commission (SKM).

"The deferment of loan repayments is the ministry's initiative to help ease the pressure and burden faced by cooperatives, micro, small and medium entrepreneurs in all affected states,” he said in a statement on Monday (Jan 9).

He also said it would be implementing a post-flood food basket assistance programme in Kelantan and Terengganu for 1,100 households with an allocation of RM110,000.

Deputy Minister Saraswathy Kandasami and agencies in the ministry would be handing over the food baskets to flood victims on Jan 13. - Bernama