Friday, February 22, 2013

SME Bank Officially Launches SME Development Scheme

KUALA LUMPUR, Feb 21 (Bernama) -- SME Bank today officially launched the SME Development Scheme (SDS) to assist small and medium enterprises (SMEs) in sectors under the National Key Economic Areas (NKEAs), Economic Transformation Programme (ETP) and Entry Point Projects (EPPs) as well as sectors supported by the government.

Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=929363
Published: February 22, 2013

Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/20130221153234/Article/
Published: February 22, 2013

SME Bank Managing Director Datuk Mohd Razif Mohd Yunus said RM500 million is expected to be disbursed this year for projects including in the oil and gas, healthcare and manufacturing sectors.

"So far we have received 20 applications for the SDS scheme," Razif said after the launch today.

The fund, with minimum financing of RM50,000, will help SMEs to finance fixed assets and also working capital, he said.

The launch was officiated by International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Mustapa said currently SMEs contribute 32 per cent of Gross Domestic Product and will need to grow a lot faster to achieve the targeted contribution of 41 per cent of GDP by 2020.

-- BERNAMA

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