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MGTC to disburse soft loans to green tech entrepreneurs

May 04, 2012

KUALA LUMPUR: Malaysian Green Technology Corp (MGTC), the official organisation that oversees the operationalisation of the National Green Technology Policy, hopes to disburse RM800 million in soft loans by end of this year to industry players.

Chief Executive Officer, Dr Nazily Mohd Noor, said under the 2010 Budget the government had allocated RM1.5 billion in soft loans for green technology entrepreneurs to promote the growth of the sector.

"From the total, about RM700 million loan has been approved since the launch of the soft loan scheme in 2010," he told reporters here today during the launch of the 2012 Green Technology Business Seminar.

Of the approved loans, he said 70 per cent went to the energy sector, with the rest going to the transportation, building and township sectors.

"The government has allocated a maximum financing of up to RM50 million for suppliers and RM10 million for consumer companies," Nazily said, adding that the government will bear two per cent of the total interest rate.

-- BERNAMA

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