Perak to Set Up Interest-Free Microcredit Program for Traders, According to MB | Malaysia

LENGGONG, September 24 – Perak will set up an interest-free microcredit program for traders affected by the Covid-19 pandemic, said Mentri Besar Datuk Saarani Mohamad.

He said the state government was fundraising and refining the loan mechanism, adding that the government had pooled initial funding of RM3 million, with RM1 million each coming from the economic stimulus plan of last year from the Perak State Agricultural Development Corporation and the Perak Entrepreneur Secretariat (STeP).

“I am convinced that we will have the opportunity to increase the funding and I will discuss with STeP to see the actual allocation required,” he said at an aid presentation ceremony here today. .

The loan program, which is expected to be implemented in January next year and announced in the Perak 2022 budget, aims to help traders in need of capital start their businesses as well as provide one-time assistance of RM300. to traders and entrepreneurs, as advertised. previously by the government.

“Such a small amount will be insufficient for some traders. Restaurant owners, night markets and other traders can charge over RM300 in capital.

“We also cannot afford to provide too much because there are too many entrepreneurs, so we decided to offer this interest free microcredit program,” he said. – Bernama