August 30, 2023
1 min read

Malaysian PM Fuels Energy Transition with $430M

Malaysian PM said the facility would enable catalytic blended finance to ensure a seamless flow of financial resources towards energy transition projects…reports Asian Lite News

Malaysia will allocate 2 billion ringgit ($430 million ) as a seed fund National Energy Transition Facility to enable catalytic blended finance, Prime Minister Anwar Ibrahim announced on Tuesday.

In his remarks at the second phase of the National Energy Transition Roadmap, Anwar said the facility would enable catalytic blended finance to ensure a seamless flow of financial resources towards energy transition projects that are marginally bankable or yielding below-market returns, reports Xinhua news agency.

Considering Malaysia’s current state of immature decarbonization technologies, the country’s progress would significantly hinge on alternative energy sources and robust regional and international collaboration, he explained.

“As the paramount challenge in energy transition is financing, it is estimated that an investment of at least 1.2 trillion ringgit between 2023 and 2050 is needed to enable responsible energy transition,” Anwar said.

He added that 60 billion-90 billion ringgits are needed to be allocated for crucial projects, including the expansion of public transportation, strengthening grid infrastructure, and reskilling of human capital, in this decade alone.

He also highlighted energy efficiency as one of the energy transition levers that offer effective long-term solutions to manage energy consumption, thus reducing carbon emissions.

The Prime Minister added that the government will launch a major retrofit program to enhance energy efficiency in government buildings. 

ALSO READ: Razorpay launches first int’l payment gateway in Malaysia

Previous Story

Ryanair Expands Maintenance Ops in Amman with Joramco Deal

Next Story

Indonesia Tackles Air Pollution for ASEAN Summit

Latest from -Top News

Bangladesh Poll Prep: EC in Talks

Chief Election Commissioner said that the Election Commission is facing significant challenges working in the current situation in the country….reports Asian Lite News Ahead of the next general election in Bangladesh, planned

India Shows Sport Can Defeat Terror

India’s response to militancy blends military strength with a “softer” statecraft: sport….reports Asian Lite News The 60th session of the United Nations Human Rights Council in Geneva (8 September–8 October 2025) cast

Terror and Repression: Bangladesh Exposed in Geneva

Diplomats warn Bangladesh under Yunus risks instability, extremism, and civil conflict….reports Asian Lite News The Geneva-based rights group International Forum for Secular Bangladesh (IFSB) held a powerful poster exhibition in Geneva, drawing
Go toTop

Don't Miss

Malaysia Bans Israeli Ships from Its Ports

The decision, effective immediately, is in response to Israel’s actions

UAE, Malaysia unite for digital infrastructure advancement

The agreement was signed by Mohamed Hassan Alsuwaidi, Minister of