Government to provide RM6.6 billion in microfinancing for small businesses
AIM is to receive RM3 billion, while Bank Simpanan Nasional will provide RM1.7 billion under the Budget 2027 measures.
Small businesses and entrepreneurs will get access to RM6.6 billion in government microfinancing, Prime Minister Datuk Seri Anwar Ibrahim said when presenting Budget 2027 on Oct 9. The intended beneficiaries include youths, gig workers, vulnerable groups and business owners from the Bumiputera and Indian communities.
Anwar said the allocation planned for Amanah Ikhtiar Malaysia (AIM) amounts to RM3 billion. Some 360,000 entrepreneurs are expected to benefit from that initiative.
The National Entrepreneurial Group Economic Fund (Tekun) is to receive RM1.3 billion to help develop Bumiputera entrepreneurs. For small Indian entrepreneurs looking to expand their businesses, financing through AIM and Tekun will increase to RM150 million.
Bank Simpanan Nasional will offer microfinancing of RM1.7 billion, with vendors, vulnerable groups, youths and gig workers among its intended recipients.
Separately, Anwar said RM200 million has been allocated to the Sejahtera Madani grant. Equipment and training funded by the grant will reach 40,000 recipients, particularly women.
