Posted on November 10, 2008 - by lincolnw

Malaysia: BNM launches RM200m fund for micro enterprises

KUALA LUMPUR: Bank Negara Malaysia (BNM) has launched a RM200 million Micro Enterprise Fund to increase access to micro financing for micro enterprises with viable businesses, in this current more challenging business environment.

“Given that a significant percentage of SMEs in Malaysia are micro enterprises, adequate access to financing for this segment of businesses is vital so as to enable them to contribute to the economic development of the nation,” the central bank said in a statement yesterday.

The increased access to micro financing facility is part of several pre-emptive measures announced by Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak to boost the economy.

Apart from that, the government had also allocated a RM100 million revolving capital for the urban micro financing revolving programme, which will come under Amanah Ikhtiar Malaysia. Since its launch early this year, the programme has lent out over RM500,000 to nearly 200 borrowers…{click this link to read the rest of the article}