EXIM Bank launches expansion schemes with $245m state funding

$122.43m will be allocated to help Malaysian businesses expand overseas.

The Export-Import Bank of Malaysia Berhad (EXIM Bank) will launch a local acceleration programme and an overseas expansion scheme under the $244.86m (RM1b) granted to it by the Malaysian government.

The bank, which is Malaysia’s official export credit agency, has bookmarked $73.46m (MYR300m) for The Local Local Acceleration and Growth Programme, which will provide financing to manufacturers, service providers and local vendors in order to expand their capacity, improve their productivity and strengthen their competitiveness.

A separate $122.43m (MYR500m) will be allocated to the bank's Export Leap Scheme, which aims to help Malaysian entrepreneurs and exporters develop the capabilities and skills to enter new international markets or expand their existing presence.

EXIM Bank also announced a $1.22m (MYR5m) grant, the Malaysia Global Connect GoExport Cover that will provide exporters with protection against commercial trade risks in new and non-traditional markets.

The Malaysian government is granting $244.86m (MYR1b) to EXIM Bank under the National Budget 2027 in order to support enterprises to scale and improve Malaysia’s global trade competitiveness.

EXIM bank is a subsidiary of Bank Pembangunan Malaysia Berhad Group.

Alongside export development, EXIM Bank announced the Dana Kelestarian Alam 2.0, with $97.94m (MYR400m) allotted. The programme will finance low-carbon initiatives, with the goal of helping businesses incorporate sustainability into their investments and operations, the bank said.

(US$1 = MYR4.08)