Ismail Sabri Yaakob said the government will give a RM3,000 grant each to the affected businesses and also RM10,000 in interest-free loans.

“The government is committed to lightening the burden of those affected by the floods, especially the micro, small and medium industries, and agricultural traders by giving them appropriate aid,” he said in a statement.

Ismail said the RM3,000 grant will be given through Tekun Nasional with an allocation of RM50 million. Another RM50 million will be set aside for interest-free loans of up to RM10,000, repayable within five years and a 12-month repayment moratorium.

Ismail said RM100 million would be allocated under a programme by SME Corp for loans of up to RM100,000 without interest, with a five-year repayment plan, also with a 12-month repayment moratorium.

As for the agricultural sector, RM20 million has been set aside via the padi planting disaster fund. He said previously, a total of RM21 million had been given to farmers affected by the floods in December.

Ismail said padi planters can expect a cash aid of RM1,800 per hectare, with a maximum three-hectare claim limit.

As for other sectors, he said another RM50 million was set aside under the agro-food project redevelopment programme. Those affected can apply for assistance up to a maximum of 50% of their total losses, with aid to be given in-kind through equipment or other agricultural inputs.

According to Ismail, in December, the government offered a RM500 million loan in disaster relief for SMEs of up to RM700,000 at an interest rate of up to 3.5% per year with a six-month repayment moratorium.

He said at that time, another RM30 million was allocated for those wanting to take up RM10,000 loans for micro and informal business entrepreneurs.

We are live on Telegram, subscribe here for breaking news and the latest announcements.