KUALA LUMPUR: The allocation for the National Supply Chain Finance Platform or JanaNiaga is expected to reach RM1.2 billion, with the additional allocation from participating financial institutions to come in phases.

       Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said the amount would contribute some RM4.8 billion per year to the cash liquidity of small and medium enterprises (SMEs), with the average invoice for 90 days.

       He said the Jana Niaga platform announced in Budget 2021 is the financing assistance to help strengthen the financial position of the SMEs which supplies to the government or government-linked companies (GLCs).

       "Led by Export-Import Bank of Malaysia Bhd (EXIM Bank) and with the participation of several financial institutions in Malaysia, JanaNiaga will be beneficial for SMEs that are experiencing cash flow problems due to the longer invoice payment period, besides facilitating them to obtain loans,” he said in his speech at the launch of the JanaNiaga platfrom today. - Bernama