GreenTech aims to disburse balance of RM2b fund by 2015
KUALA LUMPUR: The Malaysian Green Technology Corporation (GreenTech Malaysia) expects to disburse the balance of RM2 billion of the Green Technology Financing Scheme (GTFS) to green technology companies by December 2015.
GreenTech Malaysia chief executive officer Ahmad Hadri Haris said 108 companies have so far received financial support worth RM1.5 billion from the scheme since its introduction in 2010.
"The response for GTFS has been encouraging. Today, the 108 companies have created about 1,300 jobs in the green sector alone... the idea now is for Malaysia to grow fast, but in a sustainable manner," he said yesterday after the launch of the Green Financing Conference: Discover Green Technology Industry in Malaysia - Current and Future Prospects of Islamic Financing Solutions.
"Green industry should be one of the drivers for our economic growth."
The GTFS was introduced in October 2009 under 2010 Budget tabled by Prime Minister Datuk Seri Najib Razak with an initial RM1.5 billion allocation.
Last year, an additional RM2 billion was allocated to the scheme due to the successful take-up rate and its availability period was also extended to 2015.
GreenTech Malaysia expects to support some 140 companies by year-end, said Ahmad Hadri, adding that there is no talk at the moment to increase the allocation to GTFS in the upcoming 2014 Budget.
Meanwhile, the Green Financing Conference, in collaboration with the Islamic Banking and Finance Institute of Malaysia, is aimed at promoting the green technology industry in Malaysia and providing insights into the current and future prospects of Islamic financing solutions in driving the nation's green agenda.
Ahmad Hadri said Islamic banking is identified as one of the platforms to boost "green financing" as it is based on the promotion of values and good practices.
"To encourage more participation from various financial institutions, we recognise that there should be better access to information on the potential and development of the green technology sector," he said.
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