KUALA LUMPUR, – A total of 1.27 million micro-financing worth RM14.56 billion was channeled to micro-entrepreneurs for the period 2023 to last September through agencies under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP).
The funding was channeled through Amanah Ikhtiar Malaysia (AIM), TEKUN Nasional and Bank Rakyat to help entrepreneurs obtain business capital, generate income and expand their business.
Deputy Minister of Entrepreneurship and Cooperative Development, Datuk Mohamad Alamin said, of that amount, 212,910 new financings worth RM2.19 billion were channeled through AIM and TEKUN Nasional, while 1.05 million recurring financings worth RM12.13 billion were also recorded.
“Recurring financing is important to enable micro-entrepreneurs to obtain additional capital to increase operating capacity, increase working capital and expand business.
“In addition, a total of 8,008 micro-entrepreneurs successfully increased the scale of their business to the small and medium enterprise (SME) category, thus proving that micro-financing not only helps increase income, but also supports business development,” he said when answering a question from Masjid Tanah Member of Parliament, Datuk Mas Ermieyati Samsudin at the Dewan Rakyat conference.
