KUALA LUMPUR, Sept 6 — Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) has signed a RM150 million memorandum of understanding (MoU) with Sabah Development Bank Bhd (SDB) to offer various financing packages and entrepreneur development programmes.
A joint statement today said among the initiatives stipulated in the MoU included SME Bank to offer financing packages with SDB’s guarantee and club deal financing facilities for large-scale projects for SME entrepreneurs, especially in Sabah.
It said both parties would also share resources and collaboration in implementing entrepreneurial development programmes and promoting facilities.
“Among the focused sectors in this collaboration are the industrial, tourism as well as manufacturing and trade activities under the agricultural sector which are in line with the thrusts of the Sabah Maju Jaya Roadmap 2021-2025,” it said.
SME Bank group president and chief executive officer (CEO) Aria Putera Ismail said the bank, through its three branches in Sabah, had approved more than RM118 million in financing to 184 SMEs in 2020.
“As for 2021, until July, financing worth RM88 million has been approved to 150 SMEs,” he said.
SDB managing director and CEO Datuk Vincent Pung Yee Kiong said the collaboration between SME Bank and SDB is timely to support the initiatives by the federal and Sabah State Governments in the SME sector.
In conjunction with the signing ceremony, SME Bank and Majlis Ugama Islam Sabah (MUIS) had exchanged Letter of Intent documents for Asnaf Entrepreneurship Programme, ISHRAF 2.0, which is expected to begin in October this year. — Bernama
