In his special address on Friday, Prime Minister Tan Sri Muhyiddin Yassin introduced “PENJANA” or the National Economic Recovery Plan, the latest initiative by his administration, targeting small-and-medium and mid-tier enterprises as well.<br /><br />The plan, dubbed as a short-term stimulus package, is to help the nation’s economy recover from the Covid-19 pandemic.<br /><br />Among the initiatives are:<br />> Banking sector allocates RM2bil to assists SMEs with a threshold of RM500,000 per SME<br /><br />> RM400mil to fund Penjana microcredit by Tekun and Bank Simpanan Nasional with RM50mil allocated especially for female entrepreneurs<br /><br />> RM600mil to drive the process of digitalisation of businesses and innovation. A matching fund will be matched by local and international investors<br /><br />> RM1bil for the tourism industry <br /><br />WATCH MORE: https://thestartv.com/c/news<br />SUBSCRIBE: https://cutt.ly/TheStar<br />LIKE: https://fb.com/TheStarOnline
