MICROCAPITAL BRIEF: Selangor State Government of Malaysia Launches “WALA” Microcredit Scheme for Rural Women with $1.6m

The Selangor state government of Malaysia reportedly has allocated MYR 5 million (USD 1.63 million) for a microcredit scheme for rural women – also known as WALA – that is intended to supplement their household incomes. Through the program, women can apply for microloans of MYR 1,000 (USD 326) to MYR 3,000 (USD 979) to start part-time businesses of their choice. Training and support will also be provided. The initial goal is to extend the project to 200 women. No release date for the project has been disclosed [1] [2].

For the year 2010, Amanah Ikhtiar Malaysia (AIM) was the only microfinance institution (MFI) in Malaysia that reported to the US-based nonprofit Microfinance Information Exchange (MIX). At that time, it held a gross loan portfolio of USD 275 million outstanding to approximately 242,000 borrowers and total deposits of USD 57 million.

By Brendan Millan, Research Associate

Sources and Resources:

[1] Selangor Times: “Microloans for Estate Women” by GanPeiLing. http://www.selangortimes.com/index.php?section=news&permalink=20120420112659-micro-loans-for-estate-women

[2] The Malaysian Insider: “The Struggle of Undergraduates” by Lim Sue Goan. http://www.themalaysianinsider.com/mobile/sideviews/article/the-struggle-of-undergraduates-lim-sue-goan/

MicroCapital.org Article, February 3, 2012, “MICROCAPITAL BRIEF: Malaysian Chinese Association Launches $16.4m Microloan Fund to Train, Finance Entrepreneurs in Malaysia”, https://www.microcapital.org/microcapital-brief-malaysian-chinese-association-launches-16-4m-microloan-fund-to-train-finance-entrepreneurs-in-malaysia/

MicroCapital.org Article, December 13, 2011, “MICROCAPITAL BRIEF: Bank Negara Malaysia (BNM) Launches MobileLINK Vehicle to Expand Outreach”, https://www.microcapital.org/microcapital-brief-bank-negara-malaysia-bnm-launches-mobilelink-vehicle-to-expand-outreach/

MicroCapital.org Article, June 10, 2011, “MICROCAPITAL BRIEF: Malaysian Microfinance Institution (MFI) Amanah Ikhtiar Malaysia (AIM) to Disburse $164m in Rural Sarawak Region,” https://www.microcapital.org/microcapital-brief-malaysian-microfinance-in…

MicroCapital.org Article, July 20, 2011, “MICROCAPITAL BRIEF: Malaysian Government Budgets $10m to Establish Microfinance Lender Malaysian Chinese Women Entrepreneurs Foundation”, https://www.microcapital.org/microcapital-brief-malaysian-government-budgets-10m-to-establish-microfinance-lender-malaysian-chinese-women-entrepreneurs-foundation/

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