KUALA LUMPUR : There will be no budget cut for micro-financing activities in the recalibrated Budget 2016 to be presented on Jan 28, Ministry of Finance Under-Secretary for Strategic Investment Division Datuk Ahmad Badri Mohd Zahir said.
"We are in the midst of recalibrating the budget. We are probably not going to cut anything (for micro financing)," he told reporters on the sidelines of the ASEAN Microfinance Conference here Wednesday.
He said the government has allocated more than RM200 million to support micro-financing activities in 2015 through various agencies including TEKUN Nasional and Amanah Ikhtiar Malaysia.
Meanwhile, Ministry of Finance Secretary-General Tan Sri Dr. Mohd Irwan Serigar Abdullah said micro-finance plays a critical role in the development and sustainability of small and medium enterprises as it addresses their lack of financing options.
He pointed out that a coordinated national and regional response is needed to strengthen the service delivery of micro-finance institutions to the underserved.
"To do so, we need a 'people-centred' micro-finance model that carries the hope for shared prosperity," he said in his keynote address read by Ahmad