KUALA LUMPUR: A total of RM10 billion in loan funds are provided to encourage automation and digitisation activities in the small and medium enterprise (SME) sector.

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said through Bank Negara Malaysia, the government will provide loans to support small and medium-sized companies.

"For Bumiputera entrepreneurs, the government, through the Bumiputera Agenda Steering Unit (TERAJU) with a fund of RM135 million, will provide support financing facilities including under the Bumiputera Prosperity Fund," he said when presenting the Budget 2023 themed "Keluarga Malaysia: Makmur Bersama" (Malaysian Family: Prospering Together) in Parliament today, in line with the responsive, responsible and reformist Budget 2023 agenda.

Tengku Zafrul also said a sum of RM200 million was also provided under Perbadanan Usahawan Nasional Bhd to provide financing and entrepreneur development programmes for Bumiputera involved in the retail and distribution trade sector.

He also said as a complement to the financing initiative, the government plans to extend the 100 per cent stamp duty exemption on restructuring agreements or loan rescheduling or financing until 2024.

-- BERNAMA