The Menteri Besar of Perak, Dato’ Saarani Mohamad said that so far, the state government has managed to raise 3 million ringgit as a start-up fund to implement an interest-free micro-credit scheme.
He added that the state government is working to gather several million ringgit more before the scheme is set to begin early next year.
“The Perak state government is introducing a special interest-free micro credit scheme specifically to help small traders who are affected by the COVID-19 pandemic.
“The state government is raising funds and will refine the method of implementation so that the recipients of the scheme are those who truly need it and it will not be misused for other purposes,” he said in a statement recently.
Meanwhile, some small traders expressed their hope for the state government to facilitate the approval of the loan by reducing bureaucracy.