RM300 Million to Assist Affected IPTS Operators

PUTRAJAYA – The government has allocated RM300 million under the Mudah Jaya Financing Scheme (SPiM) for Private Higher Education Institutions (IPTS) through the National Economic Recovery Plan (PENJANA).

Minister of Rural Development, Datuk Dr Abdul Latiff Ahmad, said the scheme aims to assist and ensure the business continuity of Bumiputera IPTS operators affected by the COVID-19 outbreak.

According to him, Majlis Amanah Rakyat (MARA) has been appointed as the implementing agency for the scheme, with RM150 million allocated for implementation this year.

He added that the remaining RM150 million will be allocated for the following year.

"SPiM PENJANA IPTS will be fully implemented by a MARA subsidiary, with a financing limit of up to RM50 million.
The assessment of the financing limit will be based on the applicant's needs and repayment capability," he said in a statement today.

He explained that Bumiputera IPTS registered under the Private Higher Education Institutions Act 1996 [Act 555] are the targeted group eligible to apply for the scheme.

All applications can be made online at www.pmbtijari.com.my/spimpenjana.
FAQs and application details are also available on the website.

Source: UTUSAN ONLINE – Original Article (Malay)
Published: 28 October 2020, 8:34 PM