Europe-PH News

DBP Inks Accords For Green Financing

April 23, 2012

European Chamber of Commerce of the Philippines

Europe-PH News

STATE-OWNEDDevelopment  Bank  of  the  Philippines  (DBP)  recently signed agreements  with four  institutions for  its Green Financing Program that supports investments in environment-friendly processes and systems.

According to DBP President and  Chief Executive Francisco del Rosario Jr., the bank forged partnerships with the European Chamber of Commerce in the  Philippines  (ECCP),  the  Association  of  Development  Financing Institutions  in Asia and the Pacific (ADFIAP), the Asia Society for Social Improvement and Sustainable Transformation (Assist) and the Environmental Management  Bureau  of  the Department of Environment and Natural Resources (EMB-DENR).

“We  have  just signed the agreements that formalized our partnerships to achieve common objectives of promoting industrial productivity and green growth  while  protecting  the  environment,”  del  Rosario  said after the agreement  signing  held  on  April 12 at the DBP headquarters in Makati City.

He added that the Green Financing Program promotes investments in environment-friendly  processes and systems such as cleaner production, waste  minimization,  resource  conservation,  energy efficiency and pollution prevention  and  control,  with the end in view of reducing environmental  footprints  from projects of local government units and industrial operations.

Del Rosario said that DBP has available funds of up to P20.6 billion for environment projects.

DBP is partnering with the ECCP in its program of greening industries such  as  the  SMEs  for  environmental  Accountability, Responsibility and Transparency  Cebu Project aimed at increasing the competitiveness of  small  and  medium  enterprises  by  promoting  cleaner production, the development  of  eco-friendly  products  and  entering the green markets in Europe  and  Asia  and the Green Philippines Islands of Sustainability that promotes  sustainable  production  for  industries  within Metro Manila and Calabarzon.

Del  Rosario   said ADFIAP’s adherence to the principle of a safe and  clean  environment  as  an  integral  part  of sound business practice inspires DBP to help its clients to operate in a more environmentally sound system.

“The  expertise  and  collaboration  initiatives  of  ADFIAP  in organizing  training  programs  on  development  banking,  risk management, access to finance, corporate and environmental governance and its worldwide network of experts are resources that are open to all,” he added.

DBP is collaborating  with  Assist,  an  international capability-building organization that has implemented various developmental projects  in  Southeast  Asia,  South Asia, China and some parts of Africa.

The  bank  will  partner  with  Assist  in  organizing  joint  promotional activities  and  identifying potential projects for funding under the Green Financing program.

Del  Rosario  said  the  agreement between DBP and EMB re-affirms the mutual  commitment  of both agencies to help industries and other regulated establishments  comply  with  environmental  regulations,  particularly  in matters  pertaining  to  environmental  permits  and  compliance  with conditionalities.

He added that DBP with its environmental and other credit facilities will continue to reach out to industries, local government units  and  other  establishments.  “In particular, we fund investments in cleaner production,  pollution  abatement  facilities,  sanitation  infrastructure, energy  efficient  transport and facilities and renewable-energy projects.

“We  also  fund  other ventures for wealth creation and job generation while reducing carbon footprints from their operations,” del Rosario said.

Source: Business Mirror; Environment; 22 April 2012

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