Kuala Lumpur: Eligible Chinese New Village residents are encouraged to apply for financing under the Special Loan Scheme for Chinese New Village Residents (PKBC), which still has RM144.6 million remaining allocation. Housing and Local Government Minister (KPKT) Nga Kor Ming said currently, only RM13.5 million has been approved from the scheme, which allocates a total financing amount of RM158.1 million.
According to BERNAMA News Agency, under PKBC, there are the Micro Business Loan Scheme and the Micro Plus Business Loan Scheme, which have collectively assisted 267 applicants with loans totaling RM13.5 million. However, Minister Nga expressed dissatisfaction, stating, “We are offering over RM158.1 million, but only RM13.5 million has been approved. So, I urge all eligible Chinese New Village residents to apply for this scheme,” during a press conference after officiating a new construction project at the Rimba Panjang New Village.
Minister Nga highlighted that the scheme benefits traders with an annual income not exceeding RM250,000 and offers interest rates as low as 4 percent based on the monthly balance, equivalent to a fixed annual rate of 2.25 percent. In a related development, the KPKT has allocated RM121.38 million for the development of Chinese New Villages across Peninsular Malaysia throughout 2024, marking a 13.4 percent increase compared to the previous year’s allocation of RM107.07 million.
Last year’s allocation funded 934 development projects at a cost of RM107.81 million, including the construction of 631 basic infrastructure and facilities projects, repairs for 282 houses under the New Village House Repair Assistance Programme, and the construction of 21 new houses under the MADANI New Village People’s Housing Programme. Additionally, 1,233 solar-powered LED streetlights were installed in 195 New Villages last year, involving an allocation of RM9.97 million.
Further, six socioeconomic grant projects with a total allocation of RM1.05 million were disbursed to carry out economic-generating programmes, alongside RM2.55 million allocated for the implementation of 768 community-based programmes.