Selangor Journal
A total of RM75 million under the cash financing scheme Selangor Advance has been disbursed to help small and medium enterprises (SMEs) in the state that were affected by the Covid-19 outbreak. — File Picture SELANGORKINI

MB: RM75 mln channelled from Selangor Advance to help SMEs

By Khairul Azran Hussin

SHAH ALAM, Nov 2 — A total of RM75 million under the cash financing scheme Selangor Advance has been disbursed to help small and medium enterprises (SMEs) that were hit by the Covid-19 outbreak.

Selangor Menteri Besar Dato’ Seri Amiruddin Shari said the financial aid was given out to ensure sustainability and strengthening of business competitiveness, which would then save the companies and its workers.

“The RM75 million allocation has been liquidated to help the cash flow of the SMEs when facing future challenges. Some of the allocations were also disbursed as tourism vouchers and also to execute the Rumah Selangorku and Idaman housing projects to boost the economy.

“In strengthening competitiveness, the state government has implemented several initiatives including the e-kitchen, e-bazaar, Selangor Kerjaya (Selangor Jobs), Roda Darul Ehsan (RiDE),” he said in response to a question asked by Bukit Lanjan assemblyman at the Selangor Legislative Assembly sitting here today.

On June 22, the state government has introduced the Selangor Advance financing scheme with a preliminary fund of RM100 million to help the SMEs.

The initiative, which was announced on April 1 under the state economic stimulus package, the Selangor Cares 2.0, is formulated based on a shariah-compliant financing concept to help the businesses increase their cash flow.

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