The Malaysian Reserve
12 June 2023
Exim Bank launches Go-Export Financing Programme to finance SMEs
According to Arshad, the bank aims to support SMEs and corporate clients to build a successful export business (pic: TMR)
It offers Exim Go-SMExport, Go-Export ACE and Go-Export GreenTech to the sector
THE Export-Import Bank of Malaysia Bhd (Exim Bank) has launched the Go-Export Financing Programme (GEFP 2023) to finance small and medium enterprises (SMEs).
This will enable SMEs and corporate clients to grow, obtain funds for cashflow requirements, or expand in green tech and other tech sectors.
The GEFP has three plans called Exim Go-SMExport, Go-Export ACE and Go-Export GreenTech.
According to Exim Bank president and CEO Arshad Ismail, the bank aims to support SMEs and corporate clients to build a successful export business.
“The Exim Go Export programme is a tailor-made banking solution that prioritises the needs of our customers and ensures our offerings align with their specific exporting business requirements,” he said at the launch today.
Also present was Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz who said SMEs must be agile and responsive to key themes such as environmental, social and governance (ESG) and IR4.0 to remain competitive.
“When our SMEs are better-equipped to take on challenges related to funding, tech adoption and ESG, they will not only secure their growth path but also become more resilient for global supply and value chains,” he said in his speech.
Exim Go-SMExport and Go-Export Ace are open to all sectors, providing access to funds and flexibility in credit terms.
Meanwhile, Exim Go-Export Green Technology is a financing programme designed to help exporters invest in sustainable sectors.
Exim Bank also offers a takaful protection scheme to help Bumiputera exporters expand their markets and protect them from unpaid credit, with Bumiputera Agenda Steering Unit (Teraju) subsidising the contribution for eligible companies.
During the launch, Exim Bank signed a memorandum of understanding (MoU) with Etiqa General Takaful Bhd and Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) to strengthen the cross-selling of general takaful products and financing facilities to promote domestic and export-oriented production.
Separately, Tengku Zafrul expressed his confidence that Malaysia’s GDP forecast for this year will grow between 4% and 5%, which is supported by the country’s strong economic fundamentals and implementation of Belanjawan 2023 measures through MITI’s agencies.
“First, for a country to build a viable middle class, we must have policies to nurture broad-based socio-economic growth and such efforts must involve empowering SMEs, which means promoting, nurturing and encouraging entrepreneurship,” he added.
Malaysian SMEs contribute 38.2% of GDP in 2021, providing employment to 7.3 million people.
Tengku Zafrul also shared that the country has approved investments worth RM71.4 billion in the first quarter of 2023, a 60% increase year-on-year (YoY).
“With 1,265 projects approved, we can expect to generate 23,977 new job opportunities across the manufacturing, services and primary sectors,” he said.
(Web Source: https://themalaysianreserve.com/2023/06/12/exim-bank-launches-go-export-financing-programme-to-finance-smes/)