RM300 Million for Mudah Jaya Financing Scheme for IPTS

PUTRAJAYA: The government has allocated RM300 million for the Mudah Jaya Financing Scheme (SPiM) for Private Higher Education Institutions (IPTS) under the National Economic Recovery Plan (PENJANA).

The SPiM scheme is aimed at helping and ensuring the continuity of Bumiputera IPTS operators affected by the COVID-19 pandemic, as well as easing the financial burden they face.

Minister of Rural Development, Datuk Dr Abd Latiff Ahmad, said that MARA, as the implementing agency, has been allocated RM300 million, with RM150 million provided in 2020 and the remaining RM150 million in 2021.

“The SPiM PENJANA IPTS scheme will be fully implemented by a subsidiary of MARA, with a maximum financing limit of RM50 million.
The financing limit will be assessed based on the applicant's needs and repayment capability,” he said in a statement today.

The decision to implement the scheme was approved by the Cabinet during its meeting on October 21.

Bumiputera IPTS registered under the Private Higher Education Institutions Act 1996 [Act 555] are the targeted group eligible to apply for the SPiM scheme under PENJANA.

All applications can be submitted online via the link: www.pmbtijari.com.my/spimpenjana. Frequently asked questions and application details are also available on the website.

https://www.bharian.com.my/berita/nasional/2020/10/747333/rm300-juta-untuk-skim-pembiayaan-mudah-jaya-ipts