2020 Sarawak Budget: RM30 mln micro credit scheme to aid entrepreneurs

Posted on : 04 Nov 2019  Source of News: The Borneo Post

The views of the Sarawak State Assembly building taken from the air – Bernama file photo

KUCHING: The Sarawak government will set aside RM30 million to introduce a new initiative next year known as the Sarawak Micro Credit Scheme.

Chief Minister Datuk Patinggi Abang Johari Tun Openg announced the allocation when tabling the 2020 State Budget in the State Legislative Assembly this morning.

“The new scheme will provide financial assistance to entrepreneurs for their businesses expansion and diversification,” said Abang Johari, who is the Finance and Economic Planning Minister.

He said the target groups of the scheme would be Sarawakians, both Bumiputera and non-Bumiputera, residing and operating their businesses in the state.

Abang Johari added that the new initiative would also be for the B40 group as well as micro or small entrepreneurs who had started their business operations for at least six months.