KUALA LUMPUR – In light of the terrible floods that have inundated several parts of the country, leaving countless thousands in dire financial straits, Putrajaya has announced some initiatives to lighten the burden of flood victims.
In a statement today, Prime Minister Datuk Seri Ismail Sabri Yaakob said a few government agencies and the banking sector have agreed to assist micro, small, and medium enterprises, as well as individuals affected by the deluge.
The first of the four initiatives will grant loan repayment assistance for individuals who have housing, car, property, and personal loans, as well as credit card debts.
The facilities provided under this initiative include a deferment or reduction of their instalments.
Bank Simpanan Nasional will be offering zero-interest personal financing up to RM5,000.
“RM100 million has been allocated for this scheme to lighten the burden faced by flood victims, so they may purchase furniture and other home appliances that had been destroyed because of the disaster.
“A six-month moratorium on instalments will be granted to all flood victims nationwide,” said Ismail Sabri.
Tekun Nasional has allocated a special fund of RM30 million for Flood Recovery Loan Repayment for affected micro-enterprises.
There will be no interest for loans up to RM10,000, and they will be granted a 12-month repayment moratorium.
The fourth initiative comprises Bank Negara Malaysia’s RM200 million financing facility under its Disaster Relief Facility 2022.
The central bank is now working to increase the funds to RM500 million.
“All these initiatives follow the government assistance that I had announced before this, including the RM1,000 aid to each household affected by the floods,” said the prime minister. – The Vibes, December 22, 2021
