KUALA LUMPUR: In a bid to empower Indian women micro-entrepreneurs, a special fund of RM50 million has been allocated under Amanah Ikhtiar Malaysia (AIM) to help them expand their businesses and improve their economic status.
Deputy Entrepreneur Development and Cooperatives Minister Datuk Ramanan Ramakrishnan announced the initiative, which aims to assist small businesses run by Malaysian Indian women aged 18 and above. The RM50 million loan, utilizing internal AIM funds, is expected to benefit 7,100 new entrepreneurs, bringing the total number of beneficiaries of AIM loan schemes to 10,200.
Speaking at a Tamil New Year celebration and the launch of the Prosperity Empowerment and a New Normal (PENN) fund, Ramanan highlighted the importance of creating more micro Indian entrepreneurs in line with the Malaysia Madani concept. Micro-entrepreneurs can apply for up to RM30,000 per person and will begin repaying the loans once their businesses start generating profits.
Ramanan emphasized that this initiative will not only uplift Indian women micro-entrepreneurs who have been marginalized in Malaysian society but also contribute to their prosperity. Applications for the PENN fund will open on April 15 at 124 AIM branches nationwide.
AIM board of trustees chairman Datuk Seri Syed Hussain Syed Junid noted that such micro-credit schemes not only benefit entrepreneurs but also enhance the quality of life for their families. He highlighted the importance of financial literacy training provided for AIM members, in addition to the micro-credit schemes.
The event was attended by about 200 Indian women micro-entrepreneurs, including individuals like B. Nagammah and N. Nallama, who expressed their hopes of receiving funding to expand their businesses and improve their livelihoods. The PENN fund is expected to make a significant impact on the economic empowerment of Indian women micro-entrepreneurs in Malaysia.