Deputy Minister of Entrepreneur Development and Cooperatives, Datuk Seri R. Ramanan, announced that Bank Rakyat has approved a total of RM33.17 million in financing under the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) programme. This substantial amount was approved within a span of just four months, starting from June.
The BRIEF-i initiative is designed to support Indian entrepreneurs by providing them with accessible financial resources to grow and sustain their businesses. The approval of this significant funding underscores the government’s commitment to fostering entrepreneurship and empowering the Indian business community in Malaysia.
According to Datuk Seri R. Ramanan, the financing programme, which has a total allocation of RM50 million, has supported 384 entrepreneurs across various industries, including transportation, retail, and food and beverage, as of October 14. This initiative aims to provide financial assistance to businesses in diverse sectors, contributing to their growth and development.
“To build an inclusive and dynamic entrepreneurial ecosystem, it is essential that we address the needs of every segment of society. I am confident that, with the continuation of financing programmes like BRIEF-i, the government can ensure that more Indian entrepreneurs have access to the funds needed to grow their businesses,” he said during his speech at the BRIEF-i cheque presentation ceremony yesterday.
He highlighted that advancement in the entrepreneurial sector is a crucial investment in the nation’s economic growth, as entrepreneurs not only generate employment opportunities but also foster innovation across various industries and fields. He also emphasized that achieving this growth requires strong collaboration between the government and financial institutions like Bank Rakyat, as such partnerships are vital in supporting entrepreneurs to achieve their business objectives.
“My recommendation is to apply as soon as possible, as we have only two months left until the end of the year. It’s important to make full use of these initiatives and take advantage of this opportunity,” he said during a press conference.
Bank Rakyat Chairman, Datuk Mohd Irwan Mohd Mubarak, stated that the development bank remains dedicated to leading the way in offering inclusive and forward-thinking financial solutions. Aligned with the principles of Malaysia MADANI, the bank aims to ensure that all segments of society have equal access to financial services.
The Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) programme has proven to be a vital initiative in supporting Indian entrepreneurs across Malaysia, enabling them to access crucial financial resources to grow and sustain their businesses. With RM33.17 million already approved and 384 entrepreneurs benefiting from the programme, the government and Bank Rakyat are demonstrating a strong commitment to fostering an inclusive and dynamic entrepreneurial ecosystem.
Source: Bernama
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