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Financing Scheme to help Bumiputera IPTS affected by COVID-19
PUTRAJAYA, Oct 28 -- The cabinet has agreed to implement the Mudah Jaya Financing Scheme (SPiM) through the National Economic Recovery Plan (PENJANA) to ease the burden and ensure continuity of Bumiputera private institutions of higher learning (IPTS) affected by the COVID-19 pandemic.
Rural Development Minister, Datuk Dr Abd Latiff Ahmad in his statement today said the decision was made during the Cabinet meeting on Oct 21.
He said Majlis Amanah Rakyat (MARA), the implementing agency, had been allocated RM300 million, of which RM150 million was for 2020 and another RM150 million for 2021.
“The SPiM scheme will be fully implemented by a subsidiary of MARA with financing not exceeding RM50 million.
"The assessment of financing limits is subject to requirement and the repayment ability of applicants," he said.
Bumiputera IPTS registered under the Private Higher Education Institutions Act 1996 (Act 555) are eligible to apply.
Applications can be made online at www.pmbtijari.com.my/spimpenjana.
-- BERNAMA
