KUALA LUMPUR: Banks are now more forthcoming in providing financing for green technology development as Malaysia aspires to attain energy efficiency.
“The government has allocated funds totaling RM3.5 billion to be dispersed to green technology industry players via banks and this would benefit both the country and banking sector,” said the Secretary-General, Energy, Green Technology and Water Ministry Datuk Loo Took Gee.
She said participation in the green technology financing scheme was open to both local and foreign banks.
Loo also said the availability of financing for green technology development could spur the development of more technology companies in Malaysia.
“Malaysia’s involvement in energy efficiency can contribute to the Asean region which is targeting to achieve eight per cent contribution towards renewable energy by 2015,” she told reporters after opening the Asean Elenex 2013 and Industrial Automation 2013 Exhibition organised by Tenaga Nasional Bhd.
Loo said six per cent in energy savings can be achieved in Malaysia if green technology was aggressively developed by 2015.
“Currently, the ministry is still in discussion with a number of banks on how this funding can be offered to the industry players,” she added. — Bernama