In a statement, BNM said it will also increase the allocation for the All Economic Sector (AES) Facility, which aims to enhance access to financing for SMEs, by RM2 billion to RM6.5 billion. The two enhancements were previously announced by Prime Minister Tan Sri Muhyiddin Yassin under the PEMERKASA+ and PEMULIH packages respectively. Besides that, the TRRF and PENJANA Tourism Financing (PTF) facilities now also allows SMEs to utilise part of their financing proceeds to repay existing business loans. “The PTF aims to support SMEs in the tourism sector by preserving their capacity and assisting them to adjust and remain viable post pandemic,” said BNM. It said interested SMEs can directly apply for these facilities from participating financial institutions, and may refer to bnm.gov.my/covid19 or contact the Central Bank at bnm.my/LINK if there are any queries relating to the financing facilities.

Source: The Edge Markets July 02, 2021 14:17 UTC