RM7.76 mln approved for 652 youth entrepreneurs

Awang Tengah (second row, fourth left) with some SME business operators in Miri.

MIRI: Up to August this year, the state government had approved a total of RM7.76 million for 652 youth entrepreneurs throughout Sarawak via the Graduates Towards Entrepreneurship (GERAK) and Technical and Vocational Entrepreneurships (USTEV) programmes.

This was revealed by Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan who is also the Minister of International Trade and Industry, Industrial Terminal and Entrepreneur Development (Mintred) yesterday (Oct 3) during a working visit to IANA Corporation Sdn Bhd here.

Apart from the GERAK and USTEV programmes, he added a total of 411 Sarawak Bumiputera entrepreneurs had also received RM30.13 million from the SME Loan Scheme (SPIKS).

Meanwhile, 1,463 of the Sarawak Micro Credit Scheme (SKMS) applications from among B40, small and micro entrepreneurs were also approved for a total loan of RM48 million.

“All of them will enjoy a six-month moratorium and interest rate subsidy for a period of 42 months (3.5 years) through the SPIKS and SKMS programmes,” he said.