RM25 million soft loans approved to help young entrepreneurs

SARAWAK has approved RM25 million in soft loans to help young entrepreneurs expand their businesses, strengthen operational capacity and improve market competitiveness, said Minister of Youth, Sports and Entrepreneur Development, Datuk Seri Abdul Karim Rahman Hamzah.

Winding up his ministry’s debate at the State Legislative Assembly today, Abdul Karim said the funding was part of the state government’s continued commitment to promoting youth entrepreneurship, business growth and sustainability.

“For 2026, RM1.6 million has also been allocated under the Sarawak Youth Startup (SYStartup) Grant to help young entrepreneurs establish, develop and expand their businesses,” he said.

Abdul Karim said the ministry was also strengthening youth development and sports participation through financial assistance to eligible youth and sports associations.

As at the third quarter of 2026, the ministry had approved 90 applications under its Support Grant, involving RM1.9 million to implement about 100 programmes benefiting approximately 15,000 participants.

This represented an increase of 63.6 per cent in the number of applications approved and 68.8 per cent in the amount allocated compared with the corresponding period in 2025.

He said the programmes provided platforms to nurture youth potential, encourage community engagement, strengthen grassroots sports development and promote healthier lifestyles.

Meanwhile, the Sarawak Youth Creative Industry Fund (SYCIF) continued to support young talents in arts, culture and digital innovation, with 145 applications worth approximately RM4.3 million approved to date.

The fund aims to ensure that young people’s creative talents are not only nurtured but also developed into economically viable ventures.

Abdul Karim said the ministry remained committed to empowering young people through funding initiatives that promote leadership, innovation, entrepreneurship and active community participation.

The initiatives form part of Sarawak’s broader efforts to equip its younger generation with opportunities to develop sustainable businesses, pursue creative careers and contribute to the state’s socio-economic growth.