KUALA LUMPUR, Dec 20 — The federal government will give each head of household affected by the recent floods RM1,000, the prime minister announced this evening.

Datuk Seri Ismail Sabri Yaakob also said that small and medium businesses can apply for up to RM5,000 in financing while they look into restructuring all debt payments with Bank Simpanan Nasional.

"The RM1,000 in aid money is for the head of the family regardless of whether they were placed at a temporary relief centre.

"Through Bank Simpanan Nasional, SMEs can get cash financing of RM5,000 at zero interest with payments made only six months after the agreement was signed,” Ismail Sabri said in a statement after chairing a special National Disaster Coordination Meeting today.

In addition, the government is giving two months’ rental waiver to SMEs affected by the floods that are renting a space at the SME Bank’s Entrepreneur Premises Complex.

Apart from that, an additional RM30 million has been allocated for Flood Relief Loans which will be placed under The National Entrepreneur Group Economic Fund (Tekun Nasional).

Corporations that were affected by the flood will also get help of up to RM30,000 through emergency funds.

Adding to that, Ismail Sabri said several large GLCs and GLIC have donated RM50.8 million for the flood relief aid.

Eight individuals have been found dead after torrential rain over the course of two days caused massive floods in eight states, displaced more than 32,000 people and left thousands of homes and businesses underwater.