KUALA LUMPUR: Bank Negara will provide RM2 billion in funding for sustainable technology start-ups and help small and medium enterprises implement low-carbon practices.
Finance Minister Datuk Seri Anwar Ibrahim said this was part of the government's measures to encourage green practices among local businesses.
"Khazanah will provide RM150 million to boost environmentally friendly projects, including supporting the carbon market and reforestation
"Additionally, the Green Technology Financing Scheme (GTFS) will be improved by increasing the guarantee value to RM3 billion until 2025," he told Parliament during the tabling of the 2023 Budget here, today.
The prime minister also added there were plans to extend the period of the Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) until Dec 31, 2025.
The extension includes prolonging the incentive period from three to five years for eligible green practices.