Kuala lumpur: Affin Bank Bhd has announced a strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to enhance financing access for micro, small, and medium enterprises (MSMEs) throughout Malaysia. This collaboration specifically targets women-owned businesses and enterprises in areas where access to finance remains limited, hindering growth and economic participation.

According to BERNAMA News Agency, the centerpiece of this partnership is a US$400 million financing package designed to broaden Affin Bank's capital access and support for MSMEs and underserved business sectors. The bank plans to distribute the funds to eligible MSMEs to foster productive investment, enhance business competitiveness, and promote inclusive economic development.

Allen Forlemu, IFC Asia Pacific's regional industry director of the Financial Institutions Group, stated that the partnership could generate at least 42,000 jobs across Malaysia over the next five years. He highlighted that the financing would improve access to finance for women entrepreneurs and enterprises in regions outside major urban centers, where financing gaps are more pronounced. Forlemu emphasized the critical role small businesses play in driving jobs and economic opportunities in Malaysia, expressing appreciation for Affin Bank's focus and leadership in supporting Malaysian MSMEs.

Datuk Wan Razly Abdullah Wan Ali, president and group chief executive officer of Affin Group, noted that the collaboration extends the bank's capacity to support high-potential businesses, especially women-owned enterprises and those in regions with limited financing access. He underscored the importance of capital access in advancing socio-economic development, strengthening local economies, and creating opportunities for Malaysians to engage in the nation's growth.

Wan Razly also mentioned that the partnership combines IFC's international investor network with Affin Bank's comprehensive understanding of the Malaysian market. This synergy is expected to expand Affin Bank's customer base and facilitate capital deployment into productive sectors. He stated that the collaboration aligns with Affin Bank's AFFIN Axelerate 2028 (AX28) Plan, aimed at establishing the bank as the Most Creative and Innovative Financial Company in Malaysia.