Budget 2024: RM600 million to promote economic growth, provide financial services to rural, semi-urban communities
KUALA LUMPUR - In 2024, RM600 million will be allocated under the National Impact Fund by Khazanah Nasional to promote economic growth and provide financial services to rural and semi-urban communities.
In tabling the Malaysia Madani Budget 2024, Finance Minister Datuk Seri Anwar Ibrahim announced that the Credit Guarantee Corporation Malaysia Berhad (SJPP) has guaranteed loans for over 100,000 SMEs, comprising 75 per cent non-Bumiputera and 25 per cent Bumiputera, with a total value exceeding RM75 billion.
In the coming year, he said SJPP will guarantee up to 80 per cent of SME loans, particularly in green economy, technology and halal sectors with an available guarantee fund of up to RM20 billion.
He said Amanah Ikhtiar Malaysia (AIM) has successfully assisted one million borrowers, especially single mothers and low-income individuals in starting small businesses.
"AIM achieved a remarkable non-performing loan (NPL) rate of just 0.26 per cent in 2022.
"To support AIM's poverty alleviation efforts, the unity government will provide a financing allocation of RM100 million," he said when tabling the budget in Parliament, today.
In the next year, he said RM100 million of financing funds will be made available to cooperatives through the Revolving Capital Fund administered by Malaysia Cooperatives Commission to support more cooperatives.
