On 6 April 2020, the Government announced an additional economic stimulus package aimed at assisting Small and Medium Enterprises (SMEs) and micro businesses to withstand the impact of COVID-19 outbreak and Movement Control Order (MCO) to their businesses.
This Additional Prihatin SME Economic Stimulus Package 2020 (ESP3), valued at RM10 billion, includes:
To ensure that all the measures and initiatives under the Prihatin Economic Stimulus Package and this Additional Prihatin SME package are implemented quickly and smoothly, a taskforce has been established at the Ministry of Finance to oversee the deployment and progress of the initiatives.
The IMSME.com.my portal handled by the Credit Guarantee Corporation is ready to receive applications for SME reliefs, with the portal also offering financing advice for SMEs.
Prime Minister speech
– Source: https://www.pmo.gov.my/wp-content/uploads/2020/04/English-PM-Speech-PRIHATIN-Plus-6-4-2020-905pm.pdf
To read more, click here for details.
Other Economic Stimulus Packages and Insights
COVID-19 Impact and Response