Philippine Government Bank, The Land Bank of the Philippines (LBP), partnered up with Kredistanstalt fur Wiederaufbau (KfW) of Germany to offer up a total of P1.2 billion of green financing to priority sectors to encourage them to undertake clean energy projects.
Dubbed as Land Bank’s Credit Line for Energy Efficiency and Climate Protection (Cleecp), approved projects for financing will be able to avail of a low interest loan up to 10 years in length.
Those considered as priority sectors for loan approval of clean energy projects include: small farmers, fishers, small and medium-sized businesses, sole proprietorships, partnerships, corporations which are at least 70 percent Filipino-owned, cooperatives, associations, local government units(lgu) and government-owned and controlled corporations(gocc).
Examples of Green Energy Projects that fit the criteria for loan approval are:
- Reduction of primary energy (e.g. diesel, coal, gas) consumption.
- Reduction of direct greenhouse gas emissions (replacement, retrofitting or energy efficient modernization of CFC, HFC and HCFC chillers)
- Installation or energy efficient modernization of biomass cogeneration facilities.
- Replacement or energy efficient modernization of machinery and equipment powered by primary energy resources.
[source]
Category: Clean Energy, Financing
