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Saturday, May 25, 2024

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Bank Pembangunan Malaysia provides financial guarantee to Sukuk issuance by Econas Resource to Energy

MALAYSIA: Bank Pembangunan Malaysia, or the Malaysian Development Bank, is providing a financial guarantee to a Sukuk issuance by Econas Resource to Energy, which is part of ER2E’s RM500 million (US$112.6 million) ASEAN Sustainability SRI Sukuk Murabahah Programme, according to an official post on LinkedIn.

The funds raised from the Sukuk will be utilized to part-finance the development of the first Resource Recovery & Disposal Complex and Resource to Energy-Scheduled Waste Integrated waste treatment facilities in Pengerang, Johor which will increase the capacity of scheduled waste management facilities in Malaysia.

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