PETALING JAYA: Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), a subsidiary of Bank Pembangunan Malaysia Bhd Group (BPMB Group), has welcomed an allocation of about RM2.8 billion in strategic initiatives mandated to the bank under Budget 2027.

The initiatives will strengthen Malaysian enterprises across seven priority sectors: entrepreneur development, tourism, sustainability, high-growth and high-value industries, transportation and logistics, infrastructure and export empowerment.

SME Bank CEO Samad Majid Zain said, “The National Budget 2027 opens new opportunities for Malaysian enterprises through approximately RM2.8 billion in strategic initiatives entrusted to SME Bank, forming part of the more than RM7 billion mandated by the Government to BPMB Group.”