07 Sep 2021 . News
MOF: Development Financial Institutions to have strategic role in restoring nation’s businesses and employment opportunities

KUALA LUMPUR (Sept 6): Development Financial Institutions (DFIs) have a strategic role in the country’s efforts to restore and retain the capacity of businesses to provide various employment opportunities and support Malaysians’ livelihoods, according to the Ministry of Finance (MOF).

In a statement today, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said this is a part of formulating the nation’s economic recovery strategy and in keeping with the spirit of “#KeluargaMalaysia#”.

“I urge DFIs to provide their full support to the country during this recovery period, particularly as the objective of DFIs is to help develop the rakyat’s socio-economic well-being.

“Urgent support in terms of financing, for example, is required to prevent long-term economic scarring, particularly for micro, small and medium enterprises in strategic sectors including tourism, retail, agriculture, infrastructure, maritime, export as well as high-technology and capital-intensive industries,” he said.

DFIs are, therefore, requested to formulate practical solutions such as more accommodative financing criteria to enable businesses to get back on their feet and restart operations as soon as possible, he said.

“This proposal will also be further examined in preparation for Budget 2022,” he added.



Source : The Edge Markets – 7 September 2021 (Tuesday)

Source link : https://www.theedgemarkets.com/article/mof-development-financial-institutions-have-strategic-role-restoring-nations-businesses-and