KUALA LUMPUR (Oct 6): Export-Import Bank of Malaysia Bhd (Exim Bank) and an agency under the Prime Minister's Department have pledged to work together to assist burgeoning local green technology players in developing their export markets.

Exim Bank president and chief executive officer Norzilah Mohammed and MIGHT Technology Nurturing Sdn Bhd managing director Datuk Nik Ahmad Faizul today signed a memorandum of collaborative agreement.

It was done in conjunction with International Greentech & Eco Products Exhibition & Conference Malaysia, and was witnessed by Minister of Energy, Green Technology and Water Datuk Seri Maximus Johnity Ongkili.

Under the agreement, Exim Bank and MIGHT Technology will promote synergy on expert advice and consultation, create opportunities to develop programmes in training, information, research and development (R&D), and other knowledge-based activities related to the development of technology players.

Exim Bank also signed an Islamic facility agreement worth US$10 million (RM41.36 million) with local green technology player Evergreen Corp Sdn Bhd, to develop its waste conversion unit.

According to Norzilah, Exim Bank has just recently ventured out to assist small and medium enterprises that seek to develop green technology.

The loan facilities' rates vary for each company, depending on their credit profiles, she said. "But on average, it's 2% to 3% above the cost of funds," she added.

Evergreen Corp managing director Wan Afif Azizul represented his company in signing the Islamic facility. The company is embarking on the development of Asean's first thermal recovery unit, which will allow the conversion of waste to high-value products through the adoption of the Advanced Continuous Pyrolysis technology.

Exim Bank said the thermal recovery unit technology can turn waste tires and plastics to products such as Euro 2 diesel, hard-pressed steel wires, and refined carbon black.