Nga urges Chinese New Village residents to apply for special loans, says RM144.6m remaining in scheme

• Housing and Local Government Minister Nga Kor Ming said this scheme not only benefits traders with an annual income not exceeding RM250,000 but also offers interest rates as low as 4% based on the monthly balance, equivalent to a fixed annual rate of 2.25%.

SUNGAI SIPUT (Jan 25): 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 a remaining allocation of RM144.6 million.

Housing and Local Government Minister Nga Kor Ming said that currently, only RM13.5 million has been approved from the scheme, which allocates a total financing amount of RM158.1 million.

“Under PKBC, there are the Micro Business Loan Scheme and the Micro Plus Business Loan Scheme, which have collectively assisted 267 applicants with loans totalling RM13.5 million.

“However, I am dissatisfied because 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,” he told a press conference after officiating a new construction project at the Rimba Panjang New Village, here on Saturday.

Nga said this scheme not only benefits traders with an annual income not exceeding RM250,000 but also offers interest rates as low as 4% based on the monthly balance, equivalent to a fixed annual rate of 2.25%.

In a related development, he said the Housing and Local Government Ministry has allocated RM121.38 million for the development of Chinese new villages across Peninsular Malaysia throughout 2024.

He said this amount represents a 13.4% increase compared to the previous year, which saw an allocation of RM107.07 million.

“From last year’s allocation, a total of 934 development projects were implemented at a cost of RM107.81 million.

“This includes 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,” he said.

Additionally, 1,233 solar-powered LED streetlights were installed in 195 new villages last year, involving an allocation of RM9.97 million.

At the same time, six socioeconomic grant projects with a total allocation of RM1.05 million to carry out economic-generating programmes were disbursed, alongside RM2.55 million allocated for the implementation of 768 community-based programmes, he added.

EdgeProp.my is currently on the lookout for writers and contributors to join our team. Please feel free to send your CV to [email protected] 

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!