PETALING JAYA - Bank Negara Malaysia (BNM) has provided an additional allocation for the Targeted Assistance and Rehabilitation Facility (TRRF) of RM2 billion to increase the total facilities to RM6 billion.
According to the central bank, TRRF aims to provide assistance and support for the recovery of SMEs in the services sector.
In addition, an allocation for All Economic Sector Facilities (AES) of RM2 billion was also implemented and this increased the total facility allocation to RM6.5 billion.
"The AES facility is open to SMEs from all sectors of the economy and it aims to increase SMEs' access to financing and support growth," he said in a statement issued yesterday.
Meanwhile, BNM informed that the TRRF and Generator Tourism Financing (PTF) facilities have been improved to enable SMEs to use part of the financing to repay existing business loans (ie refinancing).
According to him, the maximum amount that can be used for refinancing is up to 30 per cent of the financing approved for the TRRF facility while up to 50 per cent of the financing approved for the PTF facility.
In addition, recipients of Special Relief Facility and Generator SME Financing are now eligible to apply for PTF (up to RM300,000 per SME).
PTF aims to support SMEs in the tourism sector by helping them maintain capacity and make adjustments as well as remain viable after a pandemic.
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