An international association of development banks and financial institutions recognized the Development Bank of the Philippines (DBP) for promoting energy efficiency.
The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) gave DBP’s Energy Efficiency Savings Financing Program (E2SAVE) a Plaque of Merit in its recent annual Development Awards.
As of September 2022, DBP has approved 10 accounts under the E2SAVE program with a total loan amount of P947-million.
The bank’s E2SAVE Program helps public and private institutions improve their productivity by harnessing available new technologies in the market for their energy efficiency and renewable energy (for own use) projects.
It also allows loan repayment based on electricity savings to make investment affordable to end-users.
Overall, the E2SAVE program empowers development partners to bolster local capacity for climate change adaptation and mitigation.
“As a longstanding partner of the ADFIAP in its mission for sustainable development, DBP will continue to implement programs that positively impact the lives of Filipinos, especially those in need of financing interventions,” says DBP President and Chief Executive Officer Emmanuel G. Herbosa.
DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.
The ADFIAP Development Awards is an annual program that honors member institutions undertaking or assisting projects in categories such as environment, small and medium enterprises, infrastructure, technology, trade, local economy, corporate governance, and corporate social responsibility.
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