On June 25, NH Nonghyup Bank announced the signing of a memorandum of understanding for a subsidized financing agreement to support the development and backing of green enterprises.
Green businesses are defined as companies or facilities that significantly contribute to environmental improvement through practices such as reducing pollutants, conserving energy, and producing eco-friendly products.
The agreement focuses on alleviating the financial burden of verifying carbon reduction amounts during the installation of carbon reduction facilities and enhancing access to financial resources for small and mid-sized enterprises (SMEs) facing challenges in utilizing policy financing.
Under the agreement, NH Nonghyup Bank will receive guarantees and greenhouse gas reduction evaluation reports based on the 'Carbon Value Assessment and Korean Green Classification System (K-Taxonomy)' from the Technology Guarantee Fund. The bank plans to use these reports to support loans under the subsidized financing agreement for green policy financing.
The support will target SMEs and mid-sized companies engaged in greenhouse gas reduction projects. Selected companies will receive favorable financing for facility funds aimed at implementing carbon reduction equipment.
Eom Eul-yong, Vice President of NH Nonghyup Bank, stated, "We expect this agreement will enable companies contributing to green growth and achieving carbon neutrality to receive financial support more smoothly. We will also develop various financial products and services to support the growth of SMEs and expand ESG (Environmental, Social, and Governance) management."
* This article has been translated by AI.
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