BPMB offers five financing schemes worth RM5.6 bln, targeting key strategic sectors

KUALA LUMPUR, Aug 3  -- Bank Pembangunan Malaysia Bhd (BPMB) remains committed to supporting the country’s economic recovery in line with its developmental mandate and is offering five financing schemes totalling RM5.6 billion, targeting key strategic sectors

The bank said the financing schemes, which are in addition to its general corporate banking facilities, are offered at preferential financing rates, to targeted sectors, including digitalisation, sustainability, maritime and logistics, tourism, and public transportation.

“BPMB welcomes viable projects and businesses in these eligible sectors to submit their applications.

“So far these schemes, previously announced by the government, have seen a total of RM2.4 billion being approved for utilisation, leaving RM3.2 billion still available for deployment,” it said in a statement today.

Chairman Datuk Seri Nazir Razak said the COVID-19 pandemic has hit businesses and industries hard and as a development finance institution, BPMB plays a catalytic role to help businesses and the economy recover.

“It is in unprecedented times like this that BPMB has to step up with counter-cyclical lending by looking at business viability over longer horizons and providing viable companies support over this extreme but temporary downturn,” he said.

He said since inception, BPMB has been a strong partner to businesses in support of the development of Malaysia’s economy and improving the lives of the rakyat, guided by its vision and mission statement as Malaysia’s leading developmental partner.

“We are reinforcing our focus, given the crucial needs of the country at the moment.” Nazir said.

-- BERNAMA