SME Bank secures RM2.8b as Malaysia targets seven sectors

Local vendors and manufacturers gain access to RM200m in affordable financing.

Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) has welcomed approximately $686.3m (RM2.8b) in strategic funding under the National Budget 2027.

The funding forms part of a wider allocation exceeding $1.7b (RM7b) entrusted by the government to the Bank Pembangunan Malaysia Berhad Group.

The financing and grants are aimed at strengthening Malaysian enterprises across seven key sectors, which include entrepreneur development, tourism, sustainability, high-growth industries, transport and logistics, infrastructure, and export empowerment.

Samad Majid Zain, CEO of SME Bank, stated that the initiatives align with the broader economic reform goals of the National Budget 2027 and the Thirteenth Malaysia Plan.

A total of $136.8m (RM558m) has been allocated for entrepreneurial opportunities.

Finally, to strengthen domestic and global market participation, the Local Acceleration and Growth Programme has been provided with $49.0m (RM200m) in affordable financing for local vendors and manufacturers.

An additional $735,000 (RM3m) grant has been allocated under the Business Export Programme to help Bumiputera micro, small, and medium enterprises build export capabilities.

($1 = RM4.08)