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SME Bank sets aside RM1b for local ECRL contractors

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NSTnation: SMEBank has set aside a RM1 billion fund for local contractors involved in the civil works packages of the East Coast Rail Link (ECRL) project.

The allocation will provide local contractors with the necessary financing facilities they need to complete the project by Dec 2026.

Finance Minister Lim Guan Eng said each qualified local contractor would have access to up to RM50 million in funds through a combination of term financing and revolving credit.“The ECRL project will provide new jobs for local vendors and contractors. Present was Entrepreneur Development Ministry secretary-general Datuk Wan Suraya Wan Mohd Radzi and China’s Ambassador to Malaysia Bai Tian.“This is crucial as Malaysian companies, especially the smaller ones, who must urgently raise their competitiveness and improve their work and service quality.“SME Bank does not merely provide financial facilities to qualified companies. It also offers services beyond financing to ensure companies are managed sustainbly,” he said.

 

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