KUCHING, April 3 — Agrobank has teamed up with the Sarawak government to assist small and medium enterprises (SMEs) in weathering the impact of Covid-19 and the Movement Control Order (MCO) through the Sarawakku Sayang Special Assistance Package.
In a statement today, the bank said it was offering two schemes and would collaborate with Sarawak Economic Development Corporation (SEDC) to disburse the RM50 million micro credit funds allocated under the package.
“The Sarawak Micro Credit Scheme 1 (SMCS 1) offers B40 entrepreneurs financing ranging from RM1,000 to RM5,000 with zero profit charge.
“The Sarawak Micro Credit Scheme 2 (SMCS 2) offers financing from RM5,000 up to RM50,000,” it said, adding that the micro-credit funds would benefit some 62,000 SME entrepreneurs statewide.
In addition, it said, the state government had pledged an immediate moratorium of up to six months on the monthly instalment payments of all financing facilities approved under the programme to help alleviate the financial burden of the B40 (bottom 40 per cent household income) and SME entrepreneurs.
Agrobank covering president and chief executive officer Khadijah Iskandar said the Sarawak region had always been a key business focus and the bank was committed to empowering the B40 group in the state through its various structured micro-financing programmes.
“The significant number of customers served has demonstrated that economic activities in Sarawak are vibrant and this programme provides an abundance of opportunities for B40 and SME entrepreneurs and its ecosystem to grow their businesses during this challenging time,” she said.
Khadijah said the measures worth RM1.15 billion unveiled by Chief Minister Datuk Patinggi Abang Johari Openg on March 23 were timely to support small and significant businesses affected by Covid-19.
Potential applicants may contact any Agrobank branch across Sarawak or call its Kuching contact centre at 082-429077 or 082-424577 for more information. — Bernama
