EXIM Bank Strengthens Malaysian Businesses' Capacity Through RM1 Bln Strategic Initiatives Under Budget 2027
KUALA LUMPUR, Oct 26 (Bernama) -- Export-Import Bank of Malaysia Bhd (EXIM Bank) will strengthen Malaysian businesses’ capacity to compete internationally and adopt sustainable practices through over RM1 billion in strategic initiatives mandated by the government under Budget 2027.
The bank said in a statement today that the more than RM1 billion mandated to the bank would support enterprises to scale, diversify its markets and invest sustainably through financing and export credit protection.
EXIM Bank said RM300 million was allocated under the Local Acceleration and Growth Programme to provide affordable financing to help manufacturers, service providers and local vendors expand capacity, improve productivity and strengthen competitiveness.
“By supporting their participation in the value and supply chains of multinational corporations and leading local corporates, including those in strategic sectors under the New Industrial Master Plan 2030, the programme will strengthen domestic business capabilities and facilitate deeper integration into regional and global networks,” added the bank.
Building on this foundation, EXIM Bank said the RM500 million under the Export Leap Scheme would help Malaysian entrepreneurs and exporters develop the capabilities and skills to enter new international markets or expand their existing presence, including in frontier and non-traditional destinations.
The bank noted that the scheme would also support businesses in responding to heightened competition and rising costs amid global economic and geopolitical uncertainty.
To support the market expansion, EXIM Bank said a RM5 million grant under the Malaysia Global Connect GoExport Cover would provide aspiring and existing exporters with protection against commercial trade risks in new and non-traditional markets, enabling them to pursue overseas opportunities with greater confidence.
Alongside export development, EXIM Bank said it would support Malaysian companies’ transition towards more sustainable operations through an allocation of RM400 million under the Dana Kelestarian Alam 2.0.
It added that the programme would finance low-carbon initiatives, helping businesses incorporate sustainability into their investments and operations while advancing Malaysia’s environmental, social and governance objectives through responsible development finance.
-- BERNAMA