Green technology is expected to remain a very important sector in Malaysia, with funding of RM3 billion that will be channeled to the electric vehicle technology development sector and also the disposal of electrical/electronic waste.
The RM3 billion financing amount will be guaranteed until 2025, and the guarantee limit for EV technology development will be increased to 60 percent, while the waste sector financing will be increased to 80 percent.
Bank Negara Malaysia will provide 1 billion ringgit under the High and Green Technology Financing Fund to support innovative sustainable technology start-ups and 1 billion ringgit under the Low Carbon Transition Financing Fund to help SMEs implement low carbon practices.
Through the Impact Fund, Khazanah will provide 150 million ringgit to boost the development of environmentally friendly projects including supporting the carbon market and restoration of degraded forests.
Tenaga Nasional Berhad will also install solar roofs and provide EV charging facilities with an investment of 165 million ringgit until 2025.