Green Technology Financing Scheme (GTFS)
Sustainable economic development is essential in Malaysia's long-term development plans and green technology has been envisaged as one of the emerging drivers of economic growth not only to ensure sustainable energy growth for the future through energy interdependent and promote efficient utilization, but also the sustainability of the country economically, socially and environmentally. The transformation of the economy to be driven by green technology have been spelled out as the main agenda under the National Green Technology Policy which was launched in July 2009 and various programmes have been implemented to promote the application and development of green technology including the establishment of the Green Technology Financing Scheme in 2010.
The purpose of the Scheme that offers a 60% guarantee of the financing amount and a rebate of 2% on the interest/profit rate charged by the financial institutions, is to accelerate the expansion of green investments by providing easier access to financing from the private and commercial financial institutions.
The Scheme which is available until 31 December 2015 or upon reaching a total financing approval amount of RM3.5 billion whichever is earlier, facilitates the growth of local green businesses and generates new markets and job creation.
Malaysian Green Technology Corporation (GreenTech Malaysia) and Credit Guarantee Corporation Malaysia Berhad (CGC) are the agencies tasked with administering the Scheme. GreenTech Malaysia is responsible for the promotion, assessment, certification and monitoring of producers and users of green technology under the Scheme, while CGC administers the guarantee and rebate payments.
GTFS Secretariat address:
Malaysian Green Technology Corporation
No. 2, Jalan 9/10,
Persiaran Usahawan, Seksyen 9,
43650 Bandar Baru Bangi,
Selangor Darul Ehsan.
Posted Date: 22 Jun 2015