S$60m taken in Singapore's Enterprise Financing Scheme-Green loans since Oct 2021

Source: Business Times

Since the launch of the Enterprise Financing Scheme-Green (EFS Green) in October 2021, 19 local enterprises have taken up close to S$60 million in these loans, Minister for Trade and Industry Gan Kim Yong said in a written reply to a parliamentary question on August 1st.

For example, solar energy developer Terrenus Energy used the loan for portable solar photovoltaic panels and mobile substations, while lithium battery systems provider Durapower Group used it to accelerate the development and distribution of lithium-ion batteries for Tuas Mega Port's automated guided vehicle fleet.

Separately, the Enterprise Sustainability Programme – also launched in October last year – has seen over 300 local SMEs participating in awareness and education programmes, while over 40 sustainability-related projects have been supported by Enterprise Singapore.

“As each sector’s approach to sustainability varies, MTI supports and works closely with trade associations and chambers to identify their needs and develop capability-building programmes for their respective industries,” said Gan.

The government is also taking steps to help SMEs adopt sustainability solutions, such as through the Energy Efficiency Grant for SMEs in food services, food manufacturing, and retail to adopt energy-efficient equipment in pre-approved categories, he added.