KAJANG: The Bank of China in Malaysia launches Chinese education financial aid to assist poor students studying at the country’s 63 independent Chinese high schools.

The bank will be releasing financial aid for 260 students in the first phase for a total of RM130,000.

Each student is entitled to RM500.

One of the criteria is that the monthly household income of the applicant’s family is RM5,000 and below.

The aid is to help Form One students purchase items to prepare for school.

Students can apply through their schools. The applications will be reviewed by the United Chinese School Committees’ Association of Malaysia (Dong Zong), which has so far received 200 applications.

Dong Zong chairman Tan Tai Kim said in a joint press conference with representatives from the Bank of China in Malaysia, that the financial aid plan is significant to Chinese education, as it shows that the bank supports Chinese education in this country.

Tan said independent Chinese schools, especially those located in rural areas, incur a total deficit of up to RM40 million a year.

“Many face the impact due to the Covid-19 pandemic. Some students are unable to pay their fees.

But fortunately, the Chinese community and social corporations have come forward to help,” he said.

Citing an example, Tan said a financial aid plan launched by Malaysia Social Entrepreneur Foundation to assist independent Chinese school students had contributed RM6 million for the tuition fees owed by 6,000 students during the Covid-19 pandemic.

He hopes more organizations and companies would come forward to help students at independent Chinese schools.