Affin Bank and IFC launch $400 million fund to boost Malaysian MSMEs
Affin Bank Bhd and the International Finance Corp have created a $400 million financing package aimed at micro, small and medium enterprises, especially women-owned firms and those in underserved regions of Malaysia.
Affin Bank Bhd and the International Finance Corp have jointly established a $400 million financing scheme to expand credit for micro, small and medium enterprises across Malaysia. The programme targets women-owned businesses and firms operating in regions where financing gaps are widest, including Sarawak and Sabah. Affin Bank will distribute the funds to qualifying companies to encourage productive investment and enhance competitiveness.
Datuk Wan Razly Abdullah, president and CEO of Affin Group, stressed that greater capital access is vital for inclusive economic growth. IFC’s regional industry director Allen Forlemu projected the initiative could create at least 42,000 jobs within the next five years, strengthening local economies and broadening participation in national development.
Why it matters
The fund aims to create jobs and improve access to capital for underserved Malaysian businesses, especially women entrepreneurs.
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