The government has allocated RM9.8 billion in financing through six major financial institutions to expand and improve access to microcredit facilities for hawkers and small entrepreneurs across the country.
Deputy Finance Minister Liew Chin Tong said the substantial allocation is aimed at ensuring that small-scale traders are not left behind in accessing sustainable capital to grow and expand their businesses.
He said this after attending the fourth series of the “Micro Credit Turun Padang” programme at the Puchong Permai Farmers Market today.
The initiative serves as a proactive government effort to engage directly with micro-entrepreneurs at the grassroots level through outreach sessions held at local markets.
Liew added that the Ministry of Finance (MOF) is actively gathering direct feedback from traders facing difficulties in securing financing, which will be escalated for further policy consideration.
He said the inputs collected will be brought forward for the Prime Minister’s consideration during the upcoming Budget.
Among the key agencies involved in providing advisory services and facilitating loan applications are Bank Simpanan Nasional (BSN), Agrobank, Bank Rakyat, the Companies Commission of Malaysia (SSM), Amanah Ikhtiar Malaysia (AIM), TEKUN Nasional and Majlis Amanah Rakyat (MARA).
So far, 12 traders at the Puchong Permai Farmers Market have successfully obtained financing approvals, including seven from AIM, three from BSN and two from Agrobank.
The programme in Puchong is a continuation of previous sessions held at Taman Melawati, Kelana Jaya and Bandar Tasik Permaisuri farmers’ markets.
