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Credit Guarantee Corp To Approve RM1.3 Billion Financing in Malaysia
Green Technology Featured Articles
November 25, 2013

Credit Guarantee Corp To Approve RM1.3 Billion Financing in Malaysia

By Tammy Marie Rose
TMCnet Contributing Writer

The Credit Guarantee Corp Malaysia Bhd (CGC) has announced that it expects to approve RM1.3 billion worth of financing that is slated for the countries Green Technology Financing scheme. The fund should be secured by 2015.

Datuk Wan Azhar Wan Ahmad, CGC managing director, says, “The approval was expected for 130 account holders compared with 90 accounts worth RM1.4 billion approved since the scheme was introduced in 2010.”

In 2010 the scheme was set up for three-year term with an allocation from the government of  RM1.5 billion. Azhar says that there may be approvals by other financial institutions that are not required to have a guarantee.

image via kibo90

"With the additional budget of RM2 billion from the government, we still have a balance of over RM2 billion. It is not moving as fast as we expected earlier (the financing). However, since the scheme has been extended for another two years until 2015, we will find ways to achieve (the target),” Azhar added.


The government has appointed the team of CGC and the Malaysian Green Technology Corporation as those implementing the Green Technology Financing Scheme.

The Malaysian Green Technology Corporation, more commonly known as GreenTech Malaysia was established in 1998. It is a national energy research center. It is focused on the development of the energy sector, especially technological research and demonstration of renewable energy and energy efficiency.

GreenTech Malaysia is the hub of green technology development in Malaysia. It provides services for consultancy, research and training to bring forth the realization of the national green technology agenda. It has many roles including; Inculcating green technology advancement in industries and green lifestyle in individuals; Enhancing the growth of the local green technology industry; Promoting strategic alliances via technology transfer; Providing integrated green technology solutions; and Coordinating and implementing green technology policies.




Edited by Ryan Sartor


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