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Putrajaya offers RM550 mil in easy loans to oil palm smallholders

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The loans are being offered at 2% interest rate, says Finance Minister Lim Guan Eng.

The government is also providing an additional RM100 million in assistance to palm oil entrepreneurs to obtain the Malaysian Sustainable Palm Oil certification.

In a statement today, the finance minister said the government will provide RM500 million in loans for recultivation of oil palm, with a low-interest rate of 2% per annum. The government will also provide an additional RM100 million in assistance to palm oil entrepreneurs to obtain the Malaysian Sustainable Palm Oil certification.Lim said RM30 million was allocated in Budget 2019 for this purpose and the cost would be fully borne by the government. This scheme is limited to medium-sized palm plantations .

 

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Source: malaysiakini - 🏆 20. / 51 Read more »