Malaysian banks to explain inconsistencies in Green Tech projects

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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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,...

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…”

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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