Malaysia will provide an additional RM5 billion in support for MSMEc affected by the West Asia crisis.
Bernama reported that the facility will come under Bank Negara Malaysia, with further details to be announced later.
Prime Minister Datuk Seri Anwar Ibrahim said the new measure lifts the government’s latest MSME support package to RM10 billion, after the RM5 billion SJPP guarantee announced a day earlier.
Under that earlier SJPP package, financing coverage was increased to as much as 80 percent from 70 percent previously, while the guarantee period was extended to up to 10 years.
It is aimed at sectors hit hardest by rising costs and supply chain disruption, including construction, agriculture and agri-food, logistics, transportation and tourism.
Affected businesses may receive support through measures such as loan restructuring, rescheduling and targeted repayment assistance.
The latest assistance comes alongside other temporary measures, including a 12-month extension for Phase 4 of the e-Invoice rollout until 31 December 2027 for businesses with annual sales of RM1 million to RM5 million.
The government is also considering temporary import duty and sales tax relief for Malaysian-made goods returned after export processes were disrupted by the conflict.
Featured image: Edited by Fintech News Malaysia, based on image by komodo via Freepik
