Tengku Zafrul acknowledged the strategic role DFIs played as the country aimed to restore the capacity of businesses to provide job opportunities and support livelihoods.

He said urgent support was needed particularly in terms of financing to prevent long-term economic scarring, especially for micro, small- and medium-sized enterprises in sectors like tourism, retail, agriculture and other high-technology and capital intensive industries.

“I urge DFIs to provide their full support to the country during this recovery period, particularly as the objective of DFIs is to help develop the rakyat’s socio-economic well-being,” he said in a statement.

“DFIs are therefore requested to formulate practical solutions such as more accommodative financing criteria to enable businesses to get back on their feet and restart operations as soon as possible.

“This proposal will also be further examined in preparation for Budget 2022.”