THE Sarawak government today announced a second economic aid package, valued at RM1.1 billion, for the state’s small and medium enterprises (SMEs), micro-businesses and hawkers and petty traders suffering from the economic impact of the Covid-19 pandemic.

Chief Minister Abang Johari Openg said this afternoon that Sarawakku Sayang Assistance 2.0 will make available RM1 billion in interest-free loans to SMEs over the next three and a half years.

Abang Johari said the state government is working with Maybank Bank, Hong Leong Bank and RHB Bank, under the Bank Negara Malaysia (BNM) Special Relief Fund (SRF), to make the loans available.

Under the arrangement, the state government will absorb the interest on the loans.

More than 40,000 SMEs are expected to benefit from the aid.

“These SMEs are the backbone of Sarawak’s economy that provide job and business opportunities to Sarawakians.

“The financial implication of the interest-rates subsidy over three and a half years is RM80.7 million,” Abang Johari said in a media conference at Wisma Bapa Malaysia. – April 10, 2020.

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