Wednesday, November 29, 2006

Tourism Funds may open to more Banks

KUALA LUMPUR: The Tourism Ministry is considering allowing more banks to participate in the Tourism Special Fund and Tourism Infrastructure Fund following feedback of slow approvals by SME Bank, which processes applications for the funds.

Deputy Tourism Minister Datuk Donald Lim said the ministry had received feedback that it took between six months to a year for applicants to hear from SME Bank.

Lim said the ministry had also submitted a proposal to the Treasury to increase the allocation from RM1.2bil to RM3bil for each fund.

“We hope more money can be given to (the tourism sector especially in view of Visit Malaysia Year 2007),” he said.

Source : STAR

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