OCBC doubled SME sustainable financing in 2023
![OCBC doubled SME sustainable financing in 2023](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/02/Untitled-design-1.jpg)
Singapore’s Oversea-Chinese Banking Corp (OCBC) has more than doubled its sustainable financing, OCBC head of global commercial banking Linus Goh said during a media briefing.
Also read: What is Climate Financing?
He said over $5.20 billion was extended last year to small and medium enterprises (SMEs).
The loans benefited over 1,200 SMEs in Asia (Singapore, Malaysia, Indonesia, and Hong Kong). The SMEs belonged to various sectors, from built environment to renewable energy.
Also read: How do we address climate finance challenges in APAC?: IMF study answers
OCBC will work to double the number of sustainability-linked loans in 2024, Goh added. “Once you have the first ones move, the rest will follow…We only did one in 2022, and then we were able to capture about 24 last year, and we hope that we will more than double that this year,” Reuters quoted Linus Goh.
![](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/07/Screenshot-2024-07-05-at-4.33.30 PM-150x150.png)
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