US Tariff: Govt to boost SJPP guarantee schemes by RM1 billion to assist SME exporters
The govt also approved an additional sum of RM500 million for the soft loan fund offered through development financial institution, PM says. - BERNAMA
KUALA LUMPUR: The government has agreed to raise the guarantee allocation under Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) by RM1 billion especially to assist small and medium enterprises (SMEs) that are affected following the United States (US) tariff announcement to secure loans from commercial banks.
Prime Minister Datuk Seri Anwar Ibrahim said that to help affected SME entrepreneurs, the government has also approved an additional sum of RM500 million for the soft loan fund offered through development financial institutions.
"The government will continue to monitor the latest developments and is prepared to provide targeted assistance to SMEs that are directly affected.
"The US reciprocal tariff has a negative impact on global supply chains and trade, especially for SMEs, and is disruptive to ASEAN economic stability," he said when giving an explanation on US tariffs at a special Dewan Rakyat meeting today.
Meanwhile, Anwar, who is also the Finance Minister, said that amid the global economic uncertainty, the country needs to give greater focus on driving domestic economic activities, especially development and investment projects.
-- BERNAMA
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