KUCHING – The Sarawak government’s recent proposal to set up its own commercial bank is aimed at giving small and medium enterprises (SMEs) easier access to financing and contribute to the state’s economic growth.
Sarawak Premier Tan Sri Abang Johari Openg said since the state’s economy is expected to improve, it is important for the government to facilitate SMEs’ involvement to spur further development.
“The problem of the SMEs is their inability to get a loan even when the project is good. That is why I am working on Sarawak to have its own commercial bank this year or towards the end of the year,” he said at an Aidilfitri celebration in Gedong, about 90km from here, today.
Abang Johari said the matter is still in the discussion stage and he would try to make it a reality.
“I am unable to announce (the details). I have to discuss it with the majority (of the relevant parties) first. I am certain that this (bank) will be a catalyst for small and medium industries,” he added.
In an Aidilfitri visit to Sibu last Tuesday, the premier reportedly said that a financial institution would be set up in Sarawak to help SMEs.
According to him, further details about the proposed institution will be available in about two months. – Bernama, April 30, 2023
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