PM announces additional RM6mil for iTekad social finance initiative

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Anwar Ibrahim calls for increased bank participation and ethical governance to sustain the programme.

Prime Minister Anwar Ibrahim said the government will increase iTekad’s funds to RM10 million if the number of participating banks increases to 20 this year and there are additional funds from Bank Negara Malaysia.

KUALA LUMPUR: Prime Minister Anwar Ibrahim has announced an additional RM6 million grant for the government’s iTekad programme. Established by Bank Negara Malaysia, the programme is a social finance initiative which provides seed capital, micro-financing and structured training to low-income microentrepreneurs to help them start and sustain their businesses.

Speaking at an iTekad event at Sasana Kijang here today, Anwar called for more banks to take part in the programme. He hopes to raise the number of participating financial institutions from 11 to 20 before the year ends.“ the track record has been good, assuming the number of participating banks increases from 11 to 20 this year and there are additional funds from Bank Negara Malaysia, I will increase the programme’s funds to RM10 million,” he said.

Anwar also emphasised the importance of eradicating corruption and ensuring impeccable governance of the programme to maximise its efficiency.Subscribe to our newsletter and get news delivered to your mailbox.

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Malaysia Malaysia Latest News, Malaysia Malaysia Headlines