Ministry of Environment Provides Long-Term Low-Interest Loans to Environment Companies Facing Financial Difficulties... Total Scale of 400 Billion Won

Loan Applications for Future Environmental Industry Promotion Accepted from the 18th
Operated by Separating Environmental Industry and Green Transition by Sector

[Image source=Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] The Ministry of Environment announced on the 17th that it will provide 400 billion KRW in future environmental industry development loans this year to support small and medium-sized environmental enterprises.

This loan program offers necessary funds to small and medium-sized environmental companies at low interest rates (1% as of the first quarter of this year) for periods ranging from 5 to 10 years. The support is divided into 300 billion KRW for the environmental industry sector and 100 billion KRW for the green transition sector.

For the environmental industry sector, funds are provided for facility installation or management needs of small and medium-sized environmental companies. To assist small recycling companies facing financial difficulties due to the economic downturn, loan applications will be accepted from the 18th to the 27th, allowing support before the Lunar New Year holiday.

The green transition sector supports funds for the installation and operation of pollution prevention facilities and greenhouse gas reduction equipment for small and medium-sized companies. This year, 20 billion KRW is separately allocated specifically for greenhouse gas reduction equipment to actively promote the green transition.

Considering the procedures for securing resources through private financial institutions, applications for support in the green transition sector will be accepted next month, with detailed schedules to be announced separately.

Small and medium-sized companies wishing to apply for loans can access the Environmental Policy Fund Support System (loan.keiti.re.kr) to complete and submit their loan applications. After review, loan approval and fund disbursement will follow.

Details regarding the future environmental industry development loan support program can be found on the Environmental Policy Fund Support System, and inquiries can be made to the Korea Environmental Industry & Technology Institute’s Financial Support Office at 02-2284-1731~2, 1734~1736, 1738.

Meanwhile, last year the Ministry of Environment urgently allocated an additional 200 billion KRW in supplementary budget for future environmental industry development loans to support small environmental companies struggling due to COVID-19.