CIMB launches green loan for SMEs

They can receive rebates of up to 0.4% depending on their targets.

CIMB Singapore has launched the SME Sustainability Linked Loan/Financing Programme (SME SLL/SLF Programme) aimed at providing small and medium-sized enterprises (SMEs) with easier access to sustainable financing.

Clients will enjoy rebates of between 0.2% to 0.4% when they meet pre-set sustainability performance targets (SPTs).

For the first 12 months of enrollment, CIMB will give its clients a 0.2% rebate on their interest/ profit rates upon successful verification of baseline emissions.

From the second year, this rebate can increase to 0.4%, depending on the sustainability performance targets achieved. 

CIMB worked with STACS, a Singapore-headquartered ESG data and technology solutions company; and Bureau Veritas, a testing, inspection, and certification company, to make the programme happen. 

Once clients have agreed on an SPTs with CIMB, they will calculate their baseline carbon emissions through ESGpedia, a digital platform by STACs.

Bureau Veritas will verify whether clients have achieved their targets.