PETALING JAYA, 23 Sept (Bernama) — Datuk Seri Najib Tun Razak said that Amanah Ikhtiar Malaysia (AIM), the country’s largest microcredit organisation, will continue to be assisted so that it can expand its role of reducing poverty and improving the standard of living of the people.
The Prime Minister said that AIM had carried out various social development programmes since its inception in 1987, and its latest challenge was to create 4,000 women entrepreneurs by the end of next year.
He said that AIM had contributed most meaningfully in the Key National Result Area of in improving the standard of living of the people.
“This initiative through AIM is in line with the New Economic Model of shaping a high-income nation and increasing the earnings of the people,” he said when opening Menara Amanah Ikhtiar at Bandar Sri Damansara near here in conjunction with the 25th anniversary of AIM.
Najib said that AIM had taken 280,000 people out of poverty and helped many to succeed in small and medium enterprises.
The Prime Minister said that what was remarkable was that these entrepreneurs had started small with loans as low as RM500 and now earn as much as RM60,000 a month. Eight of them have become millionaires.
He was impressed that 99.5 per cent of borrowers repaid the loans they took from AIM.
With cumulative financing of RM5.6 billion up to last July, AIM was able to increase the government revolving fund by 7.8 times, Najib said.
Source : Bernama