KUALA LUMPUR, April 21 (Xinhua) -- An additional 5 billion ringgit (about 1.2 billion U.S. dollars) allocation under the government's business support scheme has been announced to help micro, small and medium enterprises (MSMEs) affected by the Middle East crisis, bringing the total to 10 billion ringgit, Prime Minister Anwar Ibrahim said on Tuesday.
This facility is to help drive growth and also act as a catalyst for companies in need, Anwar told a press briefing following a roundtable session with 20 representatives of financial institutions.
"This assistance must involve smaller companies and agricultural groups, smallholders, fishermen and hawkers who operate small stalls and restaurants," Anwar, who is also finance minister, said.
The facility supports affected sectors, including construction, agriculture and agri-food, logistics and transport, and tourism, with financing coverage increased to up to 80 percent from 70 percent, with a loan period of up to 10 years. ■
