Bank Pembangunan Malaysia launched RM1 billion fund to support business

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  • 13 Mar 2019 12:00 AM
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Bank Pembangunan Launches RM1 Billion Fund for Sustainable Development

Bank Pembangunan Malaysia Bhd has launched an RM1 billion fund to support the nation's sustainable development target by incentivising more companies to adopt sustainable practices in their business strategies and operations. Dubbed Sustainable Development Financing Fund (SDFF), the development bank will provide financing at a financing rate subsidy of 2% to companies that demonstrate continuous contribution to the 17 sustainable development goals (SDGs) under the United Nations Development Programme (UNDP). This is part of efforts for Malaysia to achieve all the SDGs by 2030. The SDFF is one of three funds totalling RM4.5 billion which the Ministry of Finance has mandated Bank Pembangunan to manage in Budget 2019. "The introduction of the fund is also expected to spur businesses to embark on green growth for sustainability and resilience, particularly in ensuring a balance between the nation's current development needs and the needs to protect its future resources," said Finance Minister Lim Guan Eng at the launch of the new fund today.

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