KOTA SAMARAHAN: A RM25-million soft loan facility to help young entrepreneurs in Sarawak expand their businesses has been approved and is now in the final stage of documentation.
Deputy Minister of Youth, Sports and Entrepreneur Development (MYSED), Datuk Dr Ripin Lamat, said the facility is currently at the State Financial Secretary’s Office level.
He said the ministry hoped the initiative would help startup entrepreneurs further grow their businesses and strengthen their products.
“We hope this will help startup entrepreneurs further expand their businesses.
“We also hope they will participate more actively in programmes and expos, as well as improve and upskill their products,” he said.
He said this when officiating at the Youth Marketplace 2026 at Dewan Suarah Samarahan here today.
Last June, MYSED Minister, Datuk Seri Abdul Karim Rahman Hamzah, announced the RM25-million soft loan facility through a collaboration between the Sarawak Government and Affin Bank Bhd.
The facility is aimed at supporting youth startups that are ready to move to the next stage of development.
He had also announced an annual RM3-million allocation for the Sarawak Youth Startup Grant through the ministry.
Ripin, who reiterated the allocation today, described the grant as a positive initiative to support the growth of startups under the ministry.
Meanwhile, the Sarawak Youth StartUp (SYStartup) Cohort 3 programme is scheduled to be held in Sibu in October.
Ripin said holding the programme in Sibu would give young entrepreneurs in Sarawak’s central region an opportunity to benefit from the initiatives offered.
“Our hope at MYSED is to develop young entrepreneurs throughout Sarawak. We want to provide equal opportunities to our youth across the state,” he said.
