By Shikin Louis
KUCHING, Nov 10: A tripartite memorandum of understanding (MoU) was signed between InvestSarawak, UN Global Compact Network Malaysia & Brunei (UNGCMYB), and Alliance Bank Malaysia Berhad, to extend RM1 billion in green financing for Sarawakian small and medium-sized enterprises (SMEs).
Sarawak’s Deputy Premier Datuk Amar Awang Tengah Ali Hasan said the RM1 billion worth of aid would focus on developing the target group’s sustainable-trade readiness and business resiliency towards Environmental, Social and Governance (ESG) compliance.
“By partnering with the right parties such as UNGCMYB coupled with the support of financial institutions like Alliance Bank, we can provide seamless transition for SMEs which are the backbone of our economy.
“InvestSarawak will continue to develop and promote more of such initiatives to benefit our local SMEs and businesses, in hopes that Sarawak can build a strong and resilient supply chain that is not only world class but sustainable on all fronts,” he said during the launching of ‘Climate Inclusive Financing & Development Programme’ held at Raia Hotel and Convention Centre here today.
Awang Tengah who is also Minister for International Trade, Industry and Investment as well as Second Minister for Natural Resources and Urban Development further stated that the Sarawak government has approved RM11.3 billion worth of investments in the manufacturing sector up until September this year.
During the MoU signing, InvestSarawak was represented by its chief executive officer Timothy Ong while UNGCMYB represented by its executive director Faroze Nadar, and Alliance Bank by Group Chief of Strategy, Marketing and Business Development Officer, Dr Aaron Sum Wei Wern.
Among those present were Deputy Minister for International Trade, Industry and Investment Datuk Malcolm Mussen Lamoh; Ministry of International Trade, Industry and Investment (MINTRED) advisor Datuk Mohd Naroden Majais and MINTRED acting permanent secretary Dzulkornain Masron. — DayakDaily
