Bank wins award for financing green tech and renewable energy projects

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SME Bank’s financing assistance for green technology and renewable energy projects has been recognised with a special award.

The Special Award for Sustainable Energy Financing was given by the Energy and Natural Resources Ministry under the development financial institution (DFI) category.

Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said, “It is the government’s aspiration to see more entrepreneurs venturing into green technology.

“Various incentives and funds have been allocated to facilitate the development of the green economy sector, including RM2bil for the Green Technology Financing Scheme (GTFS) 3.0 and Malaysia’s first sustainability bonds as presented in Budget 2021.

“SME Bank’s efforts in supporting the government’s intention is apparent when the bank successfully approved financing worth more than RM197mil since 2012 through the GTFS as well as other related financing.

“I am confident that moving forward, this amount will continue to increase.”

SME Bank group president and chief executive officer Aria Putera Ismail said, “As a DFI entrusted to strengthen the SME sector, SME Bank always ensures that the financing given adds value not only to customers but also the environment and people.

“The assistance provided is in the form of working capital for projects such as green buildings, solar farms and the installation of energy saving systems in buildings.

“Financing that meets business requirements as well as various dynamic entrepreneur development programmes have allowed us to produce innovative entrepreneurs.

“SME Bank is optimistic that the participation of SMEs in the green technology industry will increase further due to growing demand and support through various initiatives by the government and its agencies.

He added that SME Bank was prepared to offer financing facilities to drive the growth of SMEs, especially in the green technology and renewable energy sectors, in line with the development of technology and the fourth industrial revolution.

Source : The Star