More than RM5 mln disbursed to social enterprises via SIM Grant - MaGIC

KUALA LUMPUR: Thirty Malaysian social enterprises have received grants totalling more than RM5 million via the Social Impact Matching (SIM) Grant under the Short-Term Economic Recovery Plan (PENJANA), said the Malaysian Global Innovation and Creativity Centre (MaGIC).

In a statement today, it said the recipients are expected to assist 13,000 disadvantaged people through the programmes, including at-risk youths, single mothers, Orang Asli, unemployed graduates as well as B40 communities which have been adversely affected by the economic downturn.

"These initiatives are expected to generate more than RM15 million in social impact value," it said.

MaGIC said the SIM Grant was designed to support local social enterprises and social impact businesses to sustain their operations through the COVID-19 pandemic.

It promotes impact-driven solutions in five areas -- community livelihood, food security, health and social wellbeing, environmental protection and heritage preservation.

MaGIC's acting chief executive officer, Amiruddin Abdul Shukor said the SIM grant has been effective as an impact multiplier as it fosters a virtuous cycle of good.

"We hope to support as many qualified social enterprises as possible and as swiftly as possible through the disbursement of the full RM10 million grant as part of the government's response plan," he said.

-- BERNAMA