KUALA LUMPUR, Oct 1 (Bernama) — CIMB Bank Berhad (‘the bank” or “CIMB”) today launched its renewable energy financing for micro and small SMEs in Malaysia, as part of its RM15-billion SME allocation for 2019 – 2020 and CIMB Group’s sustainability commitment. The programme was launched at CIMB’s The Cooler Earth Sustainability Summit, witnessed by YB Yeo Bee Yin, Minister of Energy, Science, Technology, Environment and Climate Change, in Kuala Lumpur.
CIMB Bank has allocated RM100 million to the CIMB SME Renewable Energy Financing programme. One of the first initiatives under this programme is to provide smaller SMEs with 100% financing to cover the cost of solar photovoltaic (PV) systems and installation on their rooftops. The financing initiative offers packages from as low as RM20,000 and up to RM1 million, in support of the government’s Net Energy Metering (NEM) scheme. SMEs need to first obtain the NEM approval from SEDA, to be eligible for CIMB’s Renewable Energy Financing. The financing initiative provides a practical solution to enable even the smaller and micro SMEs to purchase solar PV systems to save on their electricity bills, and contribute to planet earth’s well-being.