PENJANA's tourism financing scheme now open for application

The scheme offers up to RM75,000 in financing for micro-companies and up to RM300,000 for SMEs with up to 3.5 per cent interest per year, for a period of not more than seven years.

Nancy says the scheme was aimed at retaining the capabilities and increasing the competitiveness of SMEs as well as local micro-companies. - File photo | Astro Awani
The tourism sector’s financing scheme worth RM1 billion under the National Economic Recovery Plan (PENJANA) is now open for application.

Tourism, Arts and Culture Minister Datuk Seri Nancy Shukri said the scheme was aimed at retaining the capabilities and increasing the competitiveness of Small and Medium Entrepreneurs (SMEs) as well as local micro-companies, besides assisting them to adjust to post-COVID-19 norms.

“SMEs and micro-companies which fulfill the qualifying criteria of SME Corp Malaysia, or which are licensed or registered under the ministry in the core tourism and tourism-related sectors are eligible to apply for the financing scheme.

“The scheme offers up to RM75,000 in financing for micro-companies and up to RM300,000 for SMEs with up to 3.5 per cent interest per year, for a period of not more than seven years,” she said in a statement yesterday.

Nancy said 12 financial institutions were involved in the financing scheme, and successful applicants would be given a minimum of six months loan repayment moratorium.

Details of the scheme are available on PENJANA’s website at http://penjana.treasury.gov.my.

-- BERNAMA