Government-linked SME Bank rolls out 50 mln USD to boost high-impact sectors in Malaysia

Xinhua
26 Jun 2025, 14:45 GMT+10

KUALA LUMPUR, June 26 (Xinhua) -- Malaysian government-owned Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) announced on Thursday a suite of strategic initiatives valued at 211 million ringgit (49.94 million U.S. dollars), reinforcing its commitment to advancing the government's MADANI economic framework and in alignment with the bank's mandate under the National Budget 2025.

Focusing on high-impact sectors such as technology, tourism, halal, and environmental, social, and governance (ESG), these initiatives also promote inclusivity by empowering low-income group and Islamic entrepreneurs, reinforcing the bank's role in building a resilient and future-ready micro, small and medium enterprises (MSME) ecosystem, the bank said in a statement.

"In line with our developmental mandate, we are pleased to inject more excitement in the MSME sector with the launch of new program, forming part of the strategic initiatives exceeding 1 billion ringgit entrusted to SME Bank under the National Budget 2025," said Mohammad Hardee Ibrahim, acting group president/chief executive officer of SME Bank.

Riding on this positive momentum, he said the bank remains firmly on track to achieve its 3 billion ringgit approved financing target for this year with continued emphasis on key strategic sectors. (1 ringgit equals 0.24 U.S. dollar)

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