KUCHING: The state government has agreed to extend the moratorium period for the Sarawak Micro Credit Scheme (SKMS) from October until December this year.
Initially, the state government allowed the postponement of the SKMS repayment for six months from April to October, 2020.
Chief Minister Datuk Patinggi Abang Johari Tun Openg explained that the move was to ease the burden of the small and medium enterprises (SMEs), especially those affected by the movement control order (MCO) due to the Covid-19 pandemic.
“I have actually approved the extension until December for our small businessmen last night (Aug 31). They can pay back after December,” he said.
Abang Johari told a press conference this after witnessing the Memorandum of Agreement (MoA) signing ceremony for joint venture development between UDA Holdings Berhand and Sarawak Economic Development Corportio (SEDC) at Grand Margherita Hotel on Tuesday (Sept 1).
To help SMEs in Sarawak affected by the pandemic, the state government announced the interest free scheme under the Bantuan Khas Sarawakku Sayang (BKSS) with an allocation of RM50 million.
The scheme is implemented by SEDC and Agrobank. SKMS I provides loans or financing of RM1,000 to RM10,000, with no interest to entrepreneurs from the B40 (low-income) group.
SKMKS II provides loans or financing of RM5,000 to RM50,000 at four percent interest rate to all micro and small entrepreneurs including non-Bumiputeras; the interest decreases with each monthly instalment.
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