KOTA BARU: Malaysian Industrial Development Finance Bhd (MIDF) will disburse speedily the emergency fund allocated under the 2012 Budget to small- and medium-sized industries (SMIs) hit by floods.

MIDF managing director Datuk Mohd Najib Abdullah said entrepeneurs involved could expect to receive the cash in seven days if they provided the necessary documents, including a police report.

"We have been given the task of channeling aid to SMIs hit by floods under the budget next year and given an allocation of RM10 million. 

"The scheme was introduced this year because quite a large number of businesses were hit by the floods earlier this year.

"So far, we have given out about RM9 million, mostly to SMIs in Johor, Negri Sembilan and Kedah," he told reporters after the opening of its new eastern region office at Wisma Perkeso in Kota Baru by chairman Tan Sri Mahmood Taib yesterday.

Mohd Najib said the loans are to enable entrepeneurs to restart their business after the disaster.