Kota Marudu Member of Parliament

RM5 billion fund to develop green industry

KUDAT: A RM5 billion fund has been allocated under the Green Technology Financing Scheme (GTFS) 2.0 to spur green technology industrial growth in the next five years.

Launched by Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili, the GTFS attracted participation from 28 financial institutions since it was introduced in 2010.

Its objective is to help finance green project nationwide such as energy, construction, transportation, water and waste.

“As of last year, RM3.5 billion funding has been approved by finance institutions to support 319 green projects throughout the nation.

“Of the figure, 37 projects were implemented in Sabah with a total of RM288 million funding. Nine of them (37 projects) are in Kudat involving RM59 million funding,” said Maximus at the launch of GTFS 2.0 here today.

In addition to the conventional funding, he said GTFS 2.0 also offered attractive package via issuance of bond with maximum limit of RM300 million for each company – 15 years for manufacturing company and 10 years for consumer company.

The RM5 billion funding under GFTS 2.0, announced by Prime Minister Datuk Seri Najib Razak in October last year, was a continuation from the initial GTFS introduced eight years ago.

The allocation provided by the government under the scheme increased from RM1.5 billion in 2010 to RM3.5 billion in 2012.