RM1b still available under BNM SME Fund
KUALA LUMPUR: RM1 billion is still available under Bank Negara's Small-And-Medium Enterprise (SME) Fund, as at end-July 2010, from a total initial allocation of RM11.4 billion.
Bank Negara Deputy Director, Development Finance and Enterprise Department, Thomas Tan said this showed that SMEs continued to have access to financing as the government was committed to helping the sector.
Among the funds available for SMEs include the New Entreprenuer Fund 2, Small-and-Medium Industries Fund 2 and the Entreprenuer Rehabilitation Fund.
"SMEs continue to rely on banking institutions for their financing requirements.
"As of July, banks gave out RM117.9 billion in financing" he said at the National SME Financing Conference 2010 in Kuala Lumpur today.
He said the central bank continued to give special focus to micro enterprises via its micro credit programme, which included nine participating financial institutions such as Agro Bank, Bank Rakyat, CIMB Bank and Bank Simpanan Nasional.
Under the programme, year-on-year financing outstanding grew 26 per cent to RM722 million, as at July, from RM617 million in the same period last year.
"Meanwhile, the number of clients has grown 19 per cent, year-on-year, with the number of access points doubling to 1,868 in 2009 from 913 in 2006," he added.
Tan said the central bank implemented a systematic framework to enhance SMEs access to financing by offering various funds and venture capital for the ICT and agriculture sectors.
Credit Guarantee Corporation schemes, Industry Restructuring Financing Guarantee Scheme and Green Technology Financing Schemes are also available to SMEs to obtain financing, he added.
- BERNAMA
Bank Negara Deputy Director, Development Finance and Enterprise Department, Thomas Tan said this showed that SMEs continued to have access to financing as the government was committed to helping the sector.
Among the funds available for SMEs include the New Entreprenuer Fund 2, Small-and-Medium Industries Fund 2 and the Entreprenuer Rehabilitation Fund.
"SMEs continue to rely on banking institutions for their financing requirements.
"As of July, banks gave out RM117.9 billion in financing" he said at the National SME Financing Conference 2010 in Kuala Lumpur today.
He said the central bank continued to give special focus to micro enterprises via its micro credit programme, which included nine participating financial institutions such as Agro Bank, Bank Rakyat, CIMB Bank and Bank Simpanan Nasional.
Under the programme, year-on-year financing outstanding grew 26 per cent to RM722 million, as at July, from RM617 million in the same period last year.
"Meanwhile, the number of clients has grown 19 per cent, year-on-year, with the number of access points doubling to 1,868 in 2009 from 913 in 2006," he added.
Tan said the central bank implemented a systematic framework to enhance SMEs access to financing by offering various funds and venture capital for the ICT and agriculture sectors.
Credit Guarantee Corporation schemes, Industry Restructuring Financing Guarantee Scheme and Green Technology Financing Schemes are also available to SMEs to obtain financing, he added.
- BERNAMA
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