UNEP FI signatory Shinhan Bank launches a new green loan program

On April 6th, Shinhan Bank launched its ‘Green Management Firm Loan Program’ with the South Korean Ministry of Environment and KEITI, a UNEP FI Supporting Institution. The program allots USD 87 million for Eco-friendly Small and Medium Entersprises, and loans are made with interest rates of up to 1.3% lower that existing programs. This is the first example of the “Green Business Finance Assistance System” that the Ministry of Environment launched this January, signalling that this might be the start of a new wave of green SME loan programs in South Korea.