BERNAMA - BPMB allocates up to RM100 mln to Malaysia Co-investment Fund in supporting MSMEs

29 October 2021

Bank Pembangunan Malaysia Bhd (BPMB) will be allocating up to RM100 million to the Malaysia Co-investment Fund to provide financing support at low rates to micro, small and medium enterprises (MSMEs).

President and group chief executive Arshad Ismail said that as a development financial institution, BPMB acknowledges there is a need for it to play an enhanced role in supporting the government towards meeting its medium-term growth aspirations.

“On top of that, BPMB will also be providing a new scheme such as Rehabilitation and Support through Equity (RESET) to help companies facing gearing or leverage problems.

“This scheme is an addition to our existing schemes, namely the Industry Digitalisation Transformation Scheme, Sustainable Development Financing Scheme, Maritime, and Logistics Scheme, Tourism Infrastructure Scheme, Public Transporting Scheme and National Development Scheme that remain until December 2023,” he said in a statement today.

The bank is also committed to supporting sustainable recovery as well as nurturing new growth sectors and pursuing regionally balanced growth for the country.

BPMB applauds the government’s efforts in providing aid to those most affected by the pandemic, while providing incentives towards digitalisation and sustainable development goals as we continue to embrace the new normal.

“Some of these economic sectors have begun to see signs of firmer recovery, hence they need to build up their resilience in order to ensure survivability and a sustainable growth path,” he said.

Arshad said the RM332.1 billion Budget 2022 with rakyat-friendly incentives and various other timely and much-needed stimulus measures will help to revitalise the economy.

The fiscal policy reflects a balanced approach by the government in protecting lives and livelihoods, rebuilding national resilience, and catalysing socio-economic reforms, he added.