PENJANA's tourism financing scheme now open for application

By TIN Media | Tourism Malaysia Published 5 days ago on 31 July 2020
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KUALA LUMPUR :

Under the National Economic Recovery Plan (PENJANA), the funding scheme for tourism is now available for application for a total of RM 1 billion.

Minister of Tourism, the Arts and Culture Datuk Seri Nancy Shukri said the scheme aims to maintain the capacities of SMEs as well as local micro-companies and increase their competitiveness, while also helping them to adapt to the post-COVID 19 standards.

“SMEs and micro-companies which fulfill the qualifying criteria of SME Corp Malaysia, or which are licensed or registered under the ministry in the core tourism and tourism-related sectors are eligible to apply for the financing scheme.

“The scheme offers up to RM75,000 in financing for micro-companies and up to RM300,000 for SMEs with up to 3.5 percent interest per year, for a period of not more than seven years,” she said in a statement.

Nancy said that the funding scheme included 12 financial institutions and that successful applicants should enjoy at least a six-month moratorium on loan repayment.


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