Kuala Lumpur — Prime Minister Anwar Ibrahim has announced an additional RM5 billion allocation under the Syarikat Jaminan Pembiayaan Perniagaan (SJPP) scheme, doubling the facility’s total size to RM10 billion.

The move is aimed at helping micro, small and medium enterprises (MSMEs) weather the impact of the ongoing Middle East crisis and rising global energy costs.

Speaking after a roundtable session with representatives from financial institutions, Anwar said the expanded facility is intended not only to ease financial pressures but also to stimulate business growth and serve as a catalyst for companies in need of support.

He stressed that the assistance will prioritise smaller businesses and grassroots sectors, including agricultural groups, smallholders, fishermen, as well as hawkers and small food operators.

The SJPP scheme will continue to support key sectors affected by current global uncertainties, such as construction, agriculture and agri-food, logistics and transport, and tourism.

Under the enhanced facility, financing coverage has been increased to up to 80% from 70%, while the loan tenure has been extended from seven years to a maximum of 10 years, providing businesses with greater flexibility and longer-term relief.

Further details on the expanded financing facility are expected to be announced soon by Bank Negara Malaysia.