BERNAMA - RM300 Million to Assist Bumiputera Private Higher Education Institutions Affected by COVID-19

PUTRAJAYA, Oct 28 – The government has allocated RM300 million for the implementation of the Skim Pembiayaan Mudah Jaya (SPiM) for private higher education institutions (IPTS) under the National Economic Recovery Plan (PENJANA).

This allocation was approved during the Cabinet meeting on October 21, aimed at easing the burden and ensuring the business continuity of Bumiputera IPTS operators affected by the COVID-19 pandemic.

Minister of Rural Development, Datuk Dr Abd Latiff Ahmad, in a statement today, said MARA has been appointed as the implementing agency and was allocated RM300 million, with RM150 million for 2020 and the remaining RM150 million in 2021.

The SPiM PENJANA IPTS scheme will be fully executed by MARA's subsidiary, with a financing limit of up to RM50 million, he added.

“The financing limit will be assessed based on the applicant's needs and repayment ability,” he said.

He added that Bumiputera IPTS registered under the Private Higher Educational Institutions Act 1996 (Act 555) are eligible to apply for the scheme.

Applications can be submitted online via: www.pmbtijari.com.my/spimpenjana

— BERNAMA
28/10/2020 | 6:39 PM