MDV continues supporting green tech MSMEs, acquiring new fund worth RM2 bil

MICRO, small and medium enterprises will continue to be supported by the Malaysia Debt Ventures Bhd (MDV) when it comes to developing green technology, in conjunction with the Government’s green growth target outlined in the 12th Malaysia Plan (12MP) 2021-2025.

According to MDV chairman Khairul Azwan Harun, the comprehensive five-year plan with nine main focus areas provides a strategic direction for the nation to achieve a sustainable economic growth trajectory, socio-economic inclusivity and environmental sustainability.

“As a technology financier, MDV’s capacity to contribute to the success of the 12MP, particularly in the area of green growth is immense.

“Being one of the pioneers and leaders in green technology financing, we also have expertise in financing renewable energy (RE) and energy efficiency (EE) projects, which would be invaluable to the achievement of the green growth target under the 12MP,” Azwan mentioned.

Khairul Azwan Harun

To-date, MDV has successfully financed more than 100 green technology-related companies at a combined amount of RM1.34 bil in financing.

Additionally, MDV will continue widening its financing focus across all technology sectors, especially those that are gaining traction in importance such as agriculture technology (agritech) and medical technology (medtech).

Apart from that, MDV also plans to develop strategies in attracting more private funds into the market by creating joint funds to finance technology startups in priority sectors, which have the capacity to be transformed via technology adoption, such as financial technology (fintech), agritech and medtech.

In order to effectively execute its plans while ensuring that it continues to have enough funds to support the financing requirements of tech and companies, MDV is currently in the final stages of finalising the issuance of its new fund worth RM2 bil.

“This is an important milestone for MDV as this will be our first ever fund to be raised based on a standalone credit rating which also marks the company’s shift into becoming a fully sustainable organisation,” Azwan noted.

“With the 12MP being in motion, MDV is confident that the economic outlook for the next five years remains to be positive, and will be well received by both the rakyat and the technology sector,” he concluded. – Oct 2, 2021

Subscribe and get top news delivered to your Inbox everyday for FREE