KUCHING: The moratorium for the Sarawak Micro Credit Scheme has been extended to December this year, said Chief Minister Datuk Patinggi Abang Johari Tun Openg.
He said the decision was taken in order to assist the small-medium enterprises and small businesses which are struggling to cope with financial challenges as a result of the Covid-19 pandemic and extension of the Recovery Movement Control Order (RMCO),
“We (state government) are extending it (moratorium) to December this year. Initially it was supposed to be until October.
“They (borrowers) can pay back after December,” he told a press conference here after witnessing a Memorandum of Agreement (MoA) between Sarawak Economic Development Corporation (SEDC) and UDA Holdings Bhd this afternoon.
The interest free scheme was announced on March 23 under the Bantuan Khas Sarawakku Sayang (BKSS) with an allocation of RM50 million from the state government and in collaboration with Agrobank.
The scheme provides loans or financing of RM1,000 to RM10,000, with no interest or profit rate to entrepreneurs from the B40 (low-income) group.