BNM’s Measures to Assist Businesses Affected by the COVID-19 Outbreak

As you are aware, Bank Negara Malaysia (BNM) is allocating RM3.3 billion of financing facilities under BNM’s Fund for SMEs to provide support for SMEs in sustaining business operations, safeguard jobs and encourage domestic investments.

BNM offers three financing facilities:

·    Special Relief Facility (SRF), RM2 billion allocated, to help alleviate the short-term cash flow problems faced by SMEs adversely affected by the COVID-19 outbreak. Eligible SMEs can obtain financing of up to RM1 million for a tenure of up to 5.5 years, including a 6-month grace period. The financing rate is capped at 3.75% p.a. The SRF is available from 6 March 2020 to 31 December 2020.

·    Agrofood Facility (AF), RM1 billion allocated, to increase food production for Malaysia and for export purposes. Eligible SMEs can obtain financing of up to RM5 million for a tenure of up to 8 years. The financing rate is capped at 3.75% p.a. The AF is available from 6 March 2020 onwards.

·    SME Automation and Digitalisation Facility (ADF), RM300 million allocated, to incentivise SMEs to automate processes and digitalise operations to improve productivity and efficiency. Eligible SMEs can obtain financing of up to RM3 million for a tenure of up to 10 years. The financing rate is at 4.00% p.a. The ADF is available from 6 March 2020 to 31 December 2020.

Application is through commercial banks, Islamic banks and development financial institutions regulated by BNM. SMEs may also apply online through the business financing referral platform at imsme.com.my.

The following officers can contacted for further information:
1. Pn. Deenawati Md Delan , Email: bpdeen@bnm.gov.my, Tel: 082-224259
2. En. Mohd Lotfi Ismail, Email: lotfi@bnm.gov.my, Tel: 082-224256