KUALA LUMPUR, March 2 (Bernama) — SME Bank is set to empower social enterprises and sustainable business for MSMEs following the announcement of Budget 2023: Building Malaysia MADANI, which consists of three new programmes amounting to RM31 million. The Government also re-announced RM1.34 billion for existing financing facilities and an additional RM9 million for other current entrepreneur programmes under SME Bank.
Datuk Wira (Dr.) Aria Putera Ismail, Group President / Chief Executive Officer SME Bank said, “SME Bank gratefully welcomes the Government’s allocation for the MSME sector in Budget 2023 which is also in line with SME Bank’s business focus in empowering Social Enterprises and Environmental, Social and Governance (ESG) adoption among MSMEs for this year. Under the Social Enterprise Financing Scheme to develop and strengthen social enterprises, RM20 million is provided for working capital and asset purchases. Meanwhile, RM1.0 million is allocated under the Juara Lestari Scheme, a capacity development programme intended to increase the number of basic and accredited social enterprises, through SME Bank’s subsidiary, Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR).”