KUALA LUMPUR, July 22 (Xinhua) -- The Malaysia Co-Investment Fund (MyCIF) has reached 1.19 billion ringgit (280 million U.S. dollars) in total co-investments as of end-2024 since its inception, supporting the growth of more than 9,500 micro-, small-, and medium-sized enterprises (MSMEs) in the country, official data showed Monday.
In its Annual Performance Report 2024 released on Monday, MyCIF said that 264 million ringgit were invested in 2024 alone.
According to the statement, MyCIF has attracted 4.1 times the amount in private sector funding for every ringgit invested, demonstrating a strong crowding-in effect. This saw a 21.4 percent increase in total private investment.
"The total co-investments by MyCIF represent 4.6 times of 260 million ringgit total funds disbursed from the government to date into the program, demonstrating efficient use of public funds," it noted.
MyCIF, set up by the Ministry of Finance of Malaysia under Budget 2019, utilizes equity crowdfunding and peer-to-peer financing platforms to channel funds into MSMEs. (1 ringgit equals 0.24 U.S. dollar) ■
