(Puchong, 21st) Deputy Finance Minister Liew Chin Tong said the government has disbursed a total of RM9.8 billion in financing through six major financial institutions, aiming to expand and streamline access to microcredit for hawkers and small entrepreneurs nationwide.
He told the media today after attending the 4th series of the "Microcredit Reaching the Grassroots" event at Puchong Permai Square Agro Market that this substantial allocation aims to ensure hawkers are not left behind and are able to obtain sustainable capital support to grow their businesses.
The "Microcredit Reaching the Grassroots" event is a proactive government initiative to engage at the grassroots level and strengthen micro-entrepreneurs in the community through interaction at agro markets.
"Visits inject vitality into the relevant agencies, and we can also make efforts to enable more hawkers to access microfinancing."
Liew Chin Tong said the Ministry of Finance is currently actively collecting direct feedback from grassroots businesses to bring to the highest levels for discussion.
"The Ministry of Finance will take this into consideration, and we also hope to gather feedback as reference for the Prime Minister when formulating the national budget."
As of now, 12 hawkers at Puchong Permai Square Agro Market have successfully obtained financing approval, of which 7 received financing from Amanah Ikhtiar Malaysia (AIM), 3 from Bank Simpanan Nasional (BSN), and 2 from Agrobank.
Six main agencies are providing consulting services and directly assisting to simplify the application process, including Bank Simpanan Nasional, Agrobank, Bank Rakyat, Companies Commission of Malaysia (SSM), TEKUN Nasional, and Majlis Amanah Rakyat (MARA).