Financing of RM30 bln made available via SJPP's schemes since 2009

Bernama

21 August 2018

Financing of RM30 bln made available via SJPP's schemes since 2009

KUALA LUMPUR, Aug 21 (Bernama) -- The Finance Ministry's wholly-owned company, Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), has partnered various financial institutions to make available financing of about RM30 billion through various schemes, since inception in 2009.

Finance Minister, Lim Guan Eng said of the RM30 billion, RM12.9 billion had already been disbursed and RM9.4 billion of this amount was guaranteed through SJPP.

SJPP is an administrator and manager of credit guarantee schemes under the Finance Ministry.

“This is a cheap method for the government to help Small and Medium Entrepreneurs (SMEs) and supports economic growth with the government spending only RM290 million since 2009 to support SJPP guarantees.

“Non-performing loans relative to the RM12.9 billion total disbursement so far has been low at 2.3 per cent and at the same time, selected guarantee schemes provided by SJPP can have a multiplier rate as high as 32.8 times direct government spending,” he added.....

Web source: http://bernama.com/en/news.php?id=1634749