PUTRAJAYA, July 12 (Bernama) -- The National Entrepreneurial Group Economic Fund (Tekun Nasional) aims to disburse up to RM600 million in loans to cottage industry entrepreneurs this year.
Last year, the agency gave out RM508 million.
Managing Director and Chief Executive Officer Datuk Abdul Rahim Hassan said RM330 million were dished out in loans to 25,324 small-time traders in the first six months of this year.
He said the government has allocated RM350 million this year to provide small loans for entrepreneurs to start cottage industries.
Money received from loan repayments will also be ploughed back into the loan fund, bringing to RM600 million the loan fund available for this year, he told a media conference to mark Tekun Nasional's victory of the "Best Innovation in Financial Services Award" in Karlsruhe, Germany, last week.
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