KUALA LUMPUR, April 21 — Prime Minister Datuk Seri Anwar Ibrahim has announced an additional RM5 billion facility under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme to assist micro, small and medium enterprises (MSMEs) facing the impact of the West Asia crisis.

This additional facility brings the total facility to RM10 billion.

Anwar said the governor of Bank Negara Malaysia will provide details of the additional facility in the near future.

"(This facility) is to help drive growth and also act as a catalyst for companies in need. This assistance must involve smaller companies and agricultural groups, smallholders, fishermen and hawkers who operate small stalls and restaurants,” he told a press conference after a roundtable session with 20 representatives of financial institutions today.

Anwar, who is also the Finance Minister, yesterday announced a guarantee allocation of RM5 billion under the SJPP to ease the pressure on MSMEs following the global energy crisis and the West Asia conflict.

The allocation is to support affected MSMEs including in construction, agriculture and agri-food, logistics and transportation, and tourism through financing coverage of up to 80 per cent from 70 per cent previously and a guarantee period of up to 10 years compared to seven years. — Bernama