ANZ and the Clean Energy Finance Corporation have extended of a funding program that provides discounted clean energy finance to ANZ’s business customers.

In a commitment worth A$200 million of new lending, CEFC and ANZ will each contribute 25 basis points towards a 50 bps discount on loans of up to $5 million.

The finance can be used to fund a broad range of emission-cutting activities, including switching to renewable energy, investing in recycling technology, and purchasing electric vehicles and energy efficient equipment.

ANZ has worked with CEFC for five years and the previous funding tranche provided discounted loans worth $250 million.

Recycling has been included in the list of eligible activities for the first time. CEFC said it would commit 10 per cent of its finance to the purchase of eligible recycling equipment.