KUALA LUMPUR: Sabah Credit Corporation (SCC) has secured a RM100 million sustainability-linked loan within the type of a revolving credit score facility from CIMB Bank Bhd to accentuate its efforts to catalyse socio-economic improvement in Sabah.
This makes SCC the primary statutory physique from East Malaysia and the primary monetary establishment in Malaysia to have secured a loan that’s linked to sustainability efficiency targets (SPTs).
This loan has been structured round two key efficiency indicators (KPIs) which are linked to SCC’s sustainability and socio-economic agenda in Sabah, with pre-agreed SPTs linked to every KPI, mentioned SCC and CIMB in a joint assertion launched right here, in the present day.
It mentioned the SPTs embrace the cumulative disbursement of loans/financing to the B40 phase, as
properly as SCC’s contribution in native communities via its company social accountability (CSR) basis, Yayasan Perbadanan Pinjaman Sabah (YPPS).
CIMB will grant a rebate in opposition to the loan curiosity if SCC achieves these SPTs, it mentioned.
“This is a major milestone for SCC and demonstrates our readiness to embrace sustainable financing in driving our developmental agenda inside Sabah.
“We can even intensify our efforts to strengthen environmental, social and governance (“ESG”) integration throughout our enterprise, which we’re assured will in the end assist SCC realise our mandate,” SCC chief govt officer George Taitim Tulas mentioned.
Meanwhile, CIMB Group
chief govt officer Datuk Abdul Rahman Ahmad mentioned: “CIMB is happy to help SCC’s sustainability and socio-economic agenda via our SLL providing.
“As a purpose-driven organisation, this represents our continued concentrate on incorporating environmental and social concerns into our financing phrases, incentivising sustainable practices inside the area, thereby making a win-win-win scenario for our enterprise and our purchasers, in addition to individuals and planet.” – Bernama
