RM800m in loans for green tech players

Malaysian Green Technology Corp (MGTC), the official organisation that oversees the operationalisation of the National Green Technology Policy, hopes to disburse RM800 million in soft loans by end of this year to industry players.

Chief Executive Officer, Dr Nazily Mohd Noor, said under the 2010 Budget the government had allocated RM1.5 billion in soft loans for green technology entrepreneurs to promote the growth of the sector.

“From the total, about RM700 million loan has been approved since the launch of the soft loan scheme in 2010,” he told reporters here today during the launch of the 2012 Green Technology Business Seminar.

Of the approved loans, he said 70 per cent went to the energy sector, with the rest going to the transportation, building and township sectors.

“The government has allocated a maximum financing of up to RM50 million for suppliers and RM10 million for consumer companies,” Nazily said, adding that the government will bear two per cent of the total interest rate.

He added the government would provide a guarantee of 60 per cent on the financing amount, with the remaining 40 per cent by banking institutions.

On the growth of the sector, he said there was a growing awareness among the players on the importance of implementing green technology towards the creation of a green business community.

Meanwhile, the 2012 Green Technology Business Seminar would be held at the JW Marriot Hotel here on May 10. The event is being organised by MGTC with co-organisors, Taiwan Institute of Information Industry and Techrans Advanced Sdn Bhd.

It is fully supported by the Taipei Economic and Cultural Office in Malaysia and the Taiwan External Trade Development Council. About 100 to 150 participants from the green technology industry are expected to attend the seminar.

Thanks for reading to the end of this story!

We would be grateful if you would consider joining as a member of The EB Circle. This helps to keep our stories and resources free for all, and it also supports independent journalism dedicated to sustainable development. It only costs as little as S$5 a month, and you would be helping to make a big difference.

Find out more and join The EB Circle

blog comments powered by Disqus

Most popular

View all news

Industry Spotlight

View all
Asia Pacific’s Hub For Collaboration On Sustainable Development
An Eco-Business initiative
The SDG Co