KUSKOP aids 8,466 Indian entrepreneurs in first five months of 2024
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has assisted 8,466 Indian entrepreneurs through multiple initiatives between January and May this year. These programmes, including Prosperity Empowerment and A New Normal for Indian Women (PENN), Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i), and the SPUMI Empowerment Financing Scheme (SPUMI Goes Big), aim to enhance economic inclusivity.
KUSKOP Deputy Minister Datuk Seri R Ramanan highlighted the government's dedication to uplifting the Indian community in entrepreneurship. 'This demonstrates that Indian entrepreneurs are integral to Malaysia's economic progress,' he said during a press conference after launching the Vanigham Financing Scheme under SME Bank.
The scheme allocates RM50 million for Indian small businesses, offering loans between RM100,000 and RM300,000 at a subsidised 6% interest rate. Due to high demand, SME Bank expanded funding to RM140 million, redirecting applicants to other suitable programmes.
Today, RM2 million was disbursed to the first 20 beneficiaries. Also present were ministry deputy secretary-general Datuk Saidatu Akhma Hassan and SME Bank chairman Datuk Muslim Hussain.
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