Business Today
5 May 2025
Govt Increases SJPP Guarantee By RM1 Billion To Aid SMEs Amid US Tariff Impact
The government has agreed to enhance the guarantee under the Skim Jaminan Pembiayaan Perniagaan (SJPP) by RM1 billion to assist small and medium enterprises (SMEs) in Malaysia affected by the recent United States tariff announcement.
Prime Minister Datuk Seri Anwar Ibrahim said that this measure would provide SMEs with greater access to financing to mitigate the negative effects of the US tariffs. In addition, the government will increase the Easy Financing Fund by RM500 million through Development Financial Institutions (DFIs) to further support affected SMEs.
“Despite the challenges, the government will continue to monitor the situation and is ready to provide targeted assistance to SMEs directly impacted,” said Anwar during a special session in the Dewan Rakyat on the US tariff issue.
Anwar, who also serves as the Finance Minister, noted that the global economic uncertainty calls for increased focus on stimulating domestic economic activities, particularly through development projects and investment initiatives. He emphasised that the retaliatory tariffs from the US were disrupting global supply chains and trade, notably affecting SMEs and regional economic stability in ASEAN.
(Web Source: https://www.businesstoday.com.my/2025/05/05/govt-increases-sjpp-guarantee-by-rm1-billion-to-aid-smes-amid-us-tariff-impact/)