South Korea Government Backs Low Interest Loans for Eco-Friendly Projects

I hope that our government staffers and Presidential hopefuls are paying attention to this development in South Korea.

According to Reuters, South Korean companies will be eligible for cheap loans when they build facilities aimed at cutting greenhouse gas emissions.

The loans will be provided by eight major commercial banks, including Kookmin Bank and Industrial Bank of Korea, at an annual interest rate of 2.5 percent, lower than the usual rate of 4.5 percent, it said in a statement.

The government will pay the difference in interest income for lenders out of a 30 billion won ($31.68 million) state-run fund designed to finance projects aimed at cutting greenhouse gas emissions, the ministry said in a statement.

I believe that providing these kinds of tax incentives in the US would send a strong signal that the country is serious about tackling our role in global warming as well as help boost the emergin green business sector even more. Get this into leglislation now!

David R. Kaufer
Founder and Chief Green Officer
Green for Good, Inc.