MIDF distributes emergency funds to 56 businesses.

On 10 June 2022, the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) distributed financial assistance of RM100,000 each to 56 micro and small and medium companies from the Kota Raja parliamentary constituency that suffered losses during the floods at an event held in Menara Muara, Shah Alam, Selangor. The event, attended by over 70 participants, was officiated by YBhg. Datuk Kamaruzzaman Johari, Political Secretary to the Minister of Entrepreneur Development and Cooperatives, YBhg. Tan Sri Noh Omar.

The highlight of the event was the distribution of RM5.4 million in financial assistance to entrepreneurs from the Taman Sri Muda and Kota Kemuning areas under MIDF’s SME Emergency Fund (SMEEF) 2.0 and TEKUN Nasional (TEKUN) funds. As of 31 May 2022, KUSKOP has approved funding for 280 flood victims totaling RM26.8 million.

Under MIDF’s SMEEF 2.0 fund, successful applicants received interest-free loans and a moratorium of 12 months. MIDF was represented by En. Azizi Hj. Mustafa, Head of Development Finance Division (DFD), who presented mock cheques to the recipients.