Malaysian banks to explain inconsistencies in Green Tech projects

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The Malaysian Deputy Finance Minister is crying foul over his country’s banks “inadequacies” over the lending of monies earmarked for green technology projects. Datuk Donald Lim Siang Chai says that of the RM1.5 billion allotted for the program, only about RM204 million has been doled out.  Chai states that the banks must be held accountable.

The government had agreed to subsidize loans made to projects in green tech industries by absorbing 2% of loan losses, and holds a 60% stake to the banks’ 40% in guaranteeing loans.  The Deputy Finance Minister has stated that it hopes that the banks will, on their own, disperse the entire RM1.5 billion by this year’s third quarter, or “they have to tell us why…”

 

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Reading Time: 1 minute

The Malaysian Deputy Finance Minister is crying foul over his country’s banks “inadequacies” over the lending of monies earmarked for green technology projects. Datuk Donald Lim Siang Chai says that of the RM1.5 billion allotted for the program, only about RM204 million has been doled out.  Chai states that the banks must be held accountable.

Reading Time: 1 minute

The Malaysian Deputy Finance Minister is crying foul over his country’s banks “inadequacies” over the lending of monies earmarked for green technology projects. Datuk Donald Lim Siang Chai says that of the RM1.5 billion allotted for the program, only about RM204 million has been doled out.  Chai states that the banks must be held accountable.

The government had agreed to subsidize loans made to projects in green tech industries by absorbing 2% of loan losses, and holds a 60% stake to the banks’ 40% in guaranteeing loans.  The Deputy Finance Minister has stated that it hopes that the banks will, on their own, disperse the entire RM1.5 billion by this year’s third quarter, or “they have to tell us why…”

 

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