RHB Reveals Target Of RM1.5bil As Green Financing Scheme For SMEs By 2024

RHB Banking Group unveils the green financing scheme for small and medium enterprises (SMEs) with a target of RM1.5 billion in sustainable financing to businesses by 2024.

Managing director of group community banking, RHB Banking Group, Jeffrey Ng (pic) said in a statement that the group will intensify its efforts in supporting and advancing SMEs to sustainable practices in 2023 through knowledge sharing, advisory as well as its innovative products and services.

“This is part of our commitment under our 5-year Sustainability Strategy and Roadmap. As of December 2022, RHB has achieved over RM14.5 billion in Sustainable financial services, which exceeds our target by 66 per cent,” he said.

Ng said the scheme forms part of the group’s existing Sustainable Financing Programme (SFP), which focuses on green product offerings comprising five financing schemes.

The available financing facilities allow access to working capital of up to RM10 million with a repayment period of up to 10 years at preferential rates.

“Our goals under this programme include raising awareness and educating SMEs on the importance of adopting greener practices, and the financial and non-financial benefits it will bring to their businesses,” he said. 

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