PM announces RM500 million aid for flood victims

Prime Minister Datuk Seri Najib Razak today announced a special aid of RM500 million for flood victims in the states affected by the disaster.

He said the fund would be managed fully by the National Security Council (MKN) and it would be disbursed after the conclusion of the floods.

"The aid will be distributed through the MKN based on the criteria to be specified," he told reporters after making an observation by air in the districts severely affected by the floods such as Tumpat and Tanah Merah.

Najib also announced that the payment of the 1Malaysia People's Aid (BR1M), which is scheduled for disbursement at the end of January, will be speeded up to the middle of the month.

In addition, in a move to ease the burden of the people affected, the prime minister also urged the financial institutions and agencies managing loan funds to reschedule the repayment period of the borrowers.