| Axiata COVID-19 Assistance Programme - 25/03/2020 |
| Axiata Group Berhad |
| TELECOM/ICT Operators and Service Providers | Asia & Pacific | Malaysia |
| RM150 million (approx. USD35 million) cash fund to provide financial assistance to micro-SMEs in Malaysia that are economically affected by Covid-19. This fund includes an initial contribution of RM20 million from the Ministry of Finance, Malaysia. In essence, this is a micro-financing initiative through its subsidiary Axiata Digital, riding on its Aspirasi digital platform (https://aspirasi.co/), in the range of RM1,000 to RM10,000 and on favourable terms to aid micro-SMEs facing difficult cash flow situations. By leveraging Aspirasi’s advanced digital technology, micro-SMEs will only be required to undergo a quick 3-minute online process and if approved, funding will be made available in 48 hours from their bank accounts. This allows for ease of applications and for funds to be quickly and efficiently disbursed to businesses in need, with minimal or no human intervention. |
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Source Link Keywords: Micro-financing; Axiata; Aspirasi; micro-SME |