KUALA LUMPUR, Dec 29 — The Ministry of Entrepreneur Development and Cooperatives (MEDAC) has decided to provide a moratorium to flood-affected micro and informal entrepreneurs who are financed by its agencies.

MEDAC minister Tan Sri Noh Omar said for a start, the payment deferment will be extended to micro and informal entrepreneurs financed by Tekun Nasional and Amanah Ikhtiar Malaysia (AIM).

“Tekun Nasional is offering a six-month moratorium to flood-affected borrowers and allocating RM30 million for financing micro and informal entrepreneurs impacted by the floods.

“The moratorium, which begins immediately, is expected to benefit about 4,000 Tekun entrepreneurs,” he said in a statement today.

Noh said the moratorium under AIM is provided automatically to its borrowers from Dec 20, 2021, to Jan 31, 2022.

“Sahabat AIM (Friends of AIM) who are affected can apply for loan repayment four times with a maximum deferment of a year and reschedule the repayment by up to three years,” he added.

He said they are also eligible to receive Tabung Kebajikan dan Kesejahteraan Sahabat (Friends’ Welfare and Wellbeing Fund) assistance of RM300 for a flooded house and an additional RM300 if their projects (products sold) are affected.

“This assistance is expected to benefit 9,200 Sahabat AIM members,” he added. — Bernama