The RM1 billion micro credit scheme, announced in the New Strategies Package unveiled last May, has received overwhelming response from small entrepreneurs.
Under the scheme, Bank Simpanan National Bhd (BSN) manages the RM300 million micro credit scheme to finance non-agricultural activities while Bank Pertanian Malaysia manages the RM500 million micro financing facility for small businesses and enterprises in the agricultural sector including farming, processing and marketing activities.
Another RM200 million has been allocated to Amanah Ikhtiar Malaysia (AIM), a non-governmental organisation, with the aim to reduce poverty among the hardcore poor through small loans.
