Prime Minister Announces BPN 2.0 Financial Assistance For B40, M40 Groups
Prime Minister Tan Sri Muhyiddin Yassin announced another round of financial assistance to help Malaysians struggling with the Recovery Movement Control Order. The government has allocated RM10 billion as part of this effort.
Under this new BPN 2.0 scheme, assistance will be extended to 10.6 million individuals and houses – covering those in the B40 and M40 income brackets. The distribution is as follows:
|B40 Household||B40 Single||M40 Household||M40 Single|
The BPN 2.0 payout will be conducted in two stages, with the first portion released at the end of October 2020, and the remainder distributed in January 2021.
The prime minister announced that there is no need for individuals to apply for the new assistance, as it will be distributed based on the previous BPN recipients.
Malaysians were also reminded that the automatic loan moratorium will end on 30 September, and those that still need help are advised to apply for an extension with their bank. Thus far, 98 percent of all applications have been approved.