Additional RM141.7 million for Sarawak SMEs affected by COVID-19

Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said the additional assistance expected to benefit over 10,000 entrepreneurs in the state, would go towards the existing programmes.

He said under this initiative, an additional RM50 million was for the Sarawak Micro Credit Scheme (SKMS) which provides loans to entrepreneurs.

To facilitate SKMS loan application, he said applicants only need to submit a business permit issued by the municipal council or other local authorities.

"New borrowers whose applications are approved before June 30 will also enjoy the six-month loan moratorium and interest rate subsidy over a period of three and a half years," he told a press conference here, yesterday.

The Sarawak government had on Jan 21, announced the fifth BKSS package involving an allocation of RM405 million to help ease the burden of the people in facing the COVID-19 pandemic and recent floods.

With the additional allocation announced today, RM20 million will be channeled to the SME Loan Scheme (SPIKS) and RM22.2 million for interest subsidy under the Targeted Relief and Recovery Facility (TRRF). Another RM20 million will be provided for the Technical and Vocational Entrepreneurs Programme (USTEV) and Graduates Towards Entrepreneurship Programme (GERAK).

Meanwhile, Awang Tengah, who is also Sarawak Minister of International Trade and Industry, Industrial Terminal and Entrepreneur Development said, yesterday 's announcement was made following a meeting with entrepreneurs whose businesses have been affected by the COVID-19 situation.

"It is hoped that the local businessmen will take advantage of the facilities provided to ease their burden," he said.