Malaysian Green Technology Corp expects over 50 green projects to be approved by financial institutions under the Green Technology Financing Scheme (SPTH) next year, compared with 30 this year.Acting CEO Ahmad Zairin Ismail said banks were now more keen to approve green projects as the Government, through the Finance Ministry, was also ready to promote this line of business.
Billions of Ringgit to promote green business
The Finance Ministry has allocated another RM2billion (on top of what has been spent) to the SPTH to further push up the production and use of green technology-based products, with the scheme extended until Dec 31, 2015.
“So far, RM805million worth of projects have been approved by over 21 participating banks in the country, while over RM250million worth of loans have been disbursed,” Zairin told reporters at the media sneak preview of the International Greentech and Eco Products Exhibition and Conference Malaysia (iGEM) 2012.
He said the time taken by banks to approve green projects has also decreased significant from over a year to between 6 weeks and 2 months. Under the funding scheme, between RM10million and RM50million is allocated for a project, depending on the criteria.
International Greentech and Eco Products Exhibition & Conference (iGEM)
The iGEM 2012, to be held on 10th - 13th October 2012 at the Kuala Lumpur Convention Centre, is expected to attract over 100,000 visitors. This year is the 3rd of such exhibition and is themed Greentech for Growth. The objective is to help push the adoption of green technology to deliver a double impact of sustainable economic growth and to address the environmental and energy security issues.
The 4-day iGEM 2012 will witness the participation of more than 605 booths involving some 330 companies, both local and overseas, featuring the following major sectors (as mentioned by Minister Peter Chin in his page):
i) Energy, as in renewable energy and energy efficiency,
ii) Transportation as in electric vehicles and hybrid cars,
iii) Building and construction,
iv) Water and waste management,
v) ICT, eco-products and related services.
TheGreenMechanics: Last year the event managed to generate sales leads of about RM1.35billion. Let's hope this year would attract better volume. I want to visit such exhibitions!
