Perak to set up interest-free microcredit program for traders
LENGGONG (Bernama): Perak will set up an interest-free microcredit program for traders affected by the Covid-19 pandemic, said Menteri Besar Datuk Saarani Mohamad (Photo).
He said the state government was fundraising and refining the loan mechanism, adding that the government had pooled initial funding of RM3 million, with RM1 million each coming from the economic stimulus plan of last year from the Perak State Agricultural Development Corporation and the Perak Entrepreneur Secretariat (Step).
“I am convinced that we will have the opportunity to increase the funding and I will discuss with Step to see the actual allocation required,” he said at an aid presentation ceremony here on Friday September 24th. .
The loan program is expected to be implemented next January and announced in the Perak 2022 budget. It aims to help traders in need of capital to start their businesses as well as to provide one-time assistance of RM300 to traders and entrepreneurs. , as previously announced by the government.
“Such a small amount will be insufficient for some traders. Restaurant owners, night markets and other traders may need more than RM300 in capital. We also cannot afford to provide too much because there is too much. entrepreneurs, so we decided to offer this interest-free micro-credit program, ”he said. – Bernama