IFC, BPI Scale Up Lending for Renewable Energy Projects RP Exceeds Program For

Manila Bulletin, December 20, 2009 | Go to article overview

IFC, BPI Scale Up Lending for Renewable Energy Projects RP Exceeds Program For


The partnership of the International Finance Corporation (IFC), the investment arm of the World Bank group for the private sector and Bank of the Philippine Islands (BPI) is primed to scale up lending to array of energy efficiency undertakings and renewable energy projects.The two banks just recently inked their first risk-sharing facility agreement, to “help mainstream sustainable energy finance to promote energy efficiency and renewable energy projects.”The IFC noted this is the first of such facility it sealed with a financial institution in East Asia, outside of China. The big push for both RE and EE projects, according to IFC and BPI, will be their contribution to the global goal of lowering carbon footprints in an aim to abate climate change risks – which is the main theme of the on-going United Nations summit in Copenhangen, Denmark.“The partnership between IFC and the Bank of the Philippine Islands is part of our strategy to scale up lending to projects in energy efficiency and renewable energy,” IFC director for global financial markets James Scriven said. …

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IFC, BPI Scale Up Lending for Renewable Energy Projects RP Exceeds Program For
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