KUALA LUMPUR, March 18 — Bank Negara Malaysia (BNM) has announced an additional allocation of RM700 million for the SME Automation and Digitalisation Facility (ADF), bringing the facility’s total allocation to RM1 billion.
The ADF, which was established in March 2020, aims to encourage small and medium enterprises (SMEs) across sectors to automate processes and digitalise operations to increase productivity and efficiency.
The ADF is open to all Malaysian SMEs, with a maximum financing amount of up to RM3 million per SME and financing tenure of up to 10 years.
“The financing rate is up to four per cent per annum, inclusive of guarantee fee. Guarantee coverage is provided by Syarikat Jaminan Pembiayaan Perniagaan (SJPP).
“The facility will be available until December 31, 2021 or full utilisation, whichever is earlier,” the central bank said in a statement yesterday.
SMEs may also opt for other financing facilities under BNM’s Fund for SMEs.
Those who wish for more information may refer to bnm.gov.my/covid19/ or contact the BNM at bnm.my/LINK.
— Bernama
