Penjana’s tourism financing scheme open for applications

Tourism, Arts and Culture Minister Nancy Shukri.

KUALA LUMPUR: The tourism sector’s financing scheme worth RM1 billion under the National Economic Recovery Plan or Penjana is now open for applications.

Tourism, Arts and Culture Minister Nancy Shukri said the scheme was aimed at retaining the capabilities and increasing the competitiveness of SMEs as well as local micro-companies, besides helping them adjust to post-Covid-19 norms.

“SMEs and micro-companies which fulfil the qualifying criteria of SME Corp Malaysia, or which are licensed or registered under the ministry in 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% interest per year, for a period of not more than seven years,” she said in a statement.

Nancy said 12 financial institutions were involved in the financing scheme, and that successful applicants would be given a minimum of six months’ loan repayment moratorium.

Details of the scheme are available on Penjana’s website at http://penjana.treasury.gov.my.