OCBC Collaborates With InvestSarawak to Support Sustainable Development

The Malaysian unit of Singapore headquartered OCBC Bank, (OCBC Malaysia) has reinforced its support of Sarawak’s long-term aspirations and sustainability-driven strategic initiatives through a Memorandum of Collaboration (MoC) signed with Invest Sarawak Sdn Bhd (InvestSarawak).

The exchange of MoC between OCBC Malaysia and InvestSarawak during the official launch of the recent Asia Pacific Green Hydrogen Conference and Exhibition 2024, unveiled a funding allocation of up to MYR5 billion by the OCBC Group to promote sustainable economic development in Sarawak.

The funding allocation will be earmarked to finance projects related to infrastructure development, renewable energy and technological advancement and will be availed either on a project basis or for corporate funding requirements benefiting state agencies, conglomerates, corporates, small medium enterprises and foreign investors.

Commenting on the agreement OCBC Malaysia’s Chief Executive Officer Tan Chor Sen, said: “OCBC Malaysia’s unwavering support of Sarawak’s strategic initiatives through this funding allocation demonstrates our commitment to stimulate economic advancement, attracting investments, and driving sustainability. This collaboration sets the stage for a successful partnership that we are confident will contribute significantly to the overall development and progress of the State.”