Business World Online
Posted on February 08, 2011 09:06:03 PM
LOANS GRANTED under the Bank of the Philippine Islands’ (BPI) sustainable energy finance program, which enjoy a guarantee by the International Finance Corp. (IFC), have reached P3 billion since the window was opened in 2009.
“We have an original target of P2 billion under the risk-sharing facility with IFC, but it has reached P3 billion,” Nanette A. Biason, BPI assistant vice president for sustainable energy finance and specialized lending unit, told reporters yesterday.
BPI and IFC held a forum on sustainable energy financing for prospective borrowers yesterday.
BPI can lend up to P300 million per borrower under its sustainable energy finance program. The loan should be used to acquire technologies to improve energy efficiency, energy distribution and energy use.
Ms. Biason said the bank has lent to different sectors, explaining the bank wants a “diversified” loan portfolio.
“We lend to the transportation and agriculture sectors as long as their projects are energy-related,” she added.
BPI and IFC signed a risk-sharing facility agreement in December 2009.
The private sector investment arm of the World Bank will guarantee half of BPI’s loans under its sustainable energy finance program.
The guarantee was intended to spur more loans to finance energy efficiency and renewable energy projects.
BPI was the first Philippine bank to ink such an agreement with IFC; the second was BDO Unibank, Inc in December last year.
BPI Senior Vice President for Corporate Banking Alberto E. Pascual also told reporters yesterday that BPI opened a separate P2-billion facility for investors interested in energy-related projects.
He, however, did not provide details but said it was similar to the bank’s sustainable energy finance facility but BPI will bear all the risk.
“The P2 billion facility just got approved, it is targeted to lend to energy-related projects of companies but the risk is solely on BPI and not shared with IFC,” Mr. Pascual said.
BPI shares closed at P54.20 apiece yesterday, 60 centavos higher than on Monday.
Meanwhile, IFC Resident Representative Jesse O. Ang told reporters yesterday that IFC was interested in investing in large, thrift and rural banks -- even non-banks -- to help these institutions expand their lending services.
“We want to be involved with banks and institutions that can make an impact on the country’s development and have a large base,” he said.
BPI and IFC held a forum on sustainable energy financing for prospective borrowers yesterday.
BPI can lend up to P300 million per borrower under its sustainable energy finance program. The loan should be used to acquire technologies to improve energy efficiency, energy distribution and energy use.
Ms. Biason said the bank has lent to different sectors, explaining the bank wants a “diversified” loan portfolio.
“We lend to the transportation and agriculture sectors as long as their projects are energy-related,” she added.
BPI and IFC signed a risk-sharing facility agreement in December 2009.
The private sector investment arm of the World Bank will guarantee half of BPI’s loans under its sustainable energy finance program.
The guarantee was intended to spur more loans to finance energy efficiency and renewable energy projects.
BPI was the first Philippine bank to ink such an agreement with IFC; the second was BDO Unibank, Inc in December last year.
BPI Senior Vice President for Corporate Banking Alberto E. Pascual also told reporters yesterday that BPI opened a separate P2-billion facility for investors interested in energy-related projects.
He, however, did not provide details but said it was similar to the bank’s sustainable energy finance facility but BPI will bear all the risk.
“The P2 billion facility just got approved, it is targeted to lend to energy-related projects of companies but the risk is solely on BPI and not shared with IFC,” Mr. Pascual said.
BPI shares closed at P54.20 apiece yesterday, 60 centavos higher than on Monday.
Meanwhile, IFC Resident Representative Jesse O. Ang told reporters yesterday that IFC was interested in investing in large, thrift and rural banks -- even non-banks -- to help these institutions expand their lending services.
“We want to be involved with banks and institutions that can make an impact on the country’s development and have a large base,” he said.
AS IN WHOLE DEVELOPMENT OF ALTERNATIVE ENERGY E.G WIND ENERGY,SOLAR ENERGY, WAVE ENERGY, BIOFUEL ,BIOGAS, BIODEISEL, COCOO DEISEL, JATROPHA, METHANE GAS,ETHANOL ALL OVER THE WORLD HAD FAILED AND THIS IS DUE TO VIABILITY TO SOME EXTEND THAT ENERGY PRODUCE IS 5,000% OR MORE HIGHER THAN REGULAR ENERGY AND SUSTAINABILITY , IT CAN ONLY CONTRIBUTE 0.001% TO WORLD ENERGY DEMAND AND TO WORST IT AFFECT THE FOOD AND FEED STOCK SECURITY.
ReplyDeleteAS ALL NATIONS TRIED BUT FAILED THE JPI FUEL TECH, A WASTE TO ENERGY PROJECT HAS DEVELOP AN OFTION FUEL FOR COAL, COAL EMITS 25 BILLION METRIC TONS OF CO2 YEARLY THE CAUSE OF CLIMATE CHANGE THAT NOW RUINS THE PLANET EARTH, THE PRIMARY AGENDA ON ALL THE COOPERATION OF PARTIES UNITED NATIONS FRAMEWORK CLIMATE CHANGE CONFERENCE (COP- UNFCCC) FAILED TO SETTLE.
BUT ON THIS THE JPI FUEL FINDS ITS WAY AS THE ONLY SOLUTION. THE PRODUCT EMITS NEUTRAL CO2 AND CAN CUT GREENHOUSE GAS EFFECT BY 90%. IT CAN ENERGIZE ALL WORLD INDUSTRIES RUN BY COAL WITH EVERLASTING SUPPLY. THE FUEL CAN BE SIZE TO ANY SIZE TO SUIT PLANT NEEDS, NO NEED FOR RE-ENGINEERING TO EXISTING PLANTS RUN BY COAL. COMPLETE ABOLITION TO THE FUEL COAL IS IN FIVE YEAR TIME FRAME THUS NO HURTING TO ANY NATION ECONOMIC GROWTH. THE FUEL COULD BE PRODUCE ANY WHERE IN THE WORLD. THE FUEL IS CAREFULLY STUDIED, REVIEWED BOTH BY THE DEPARTMENT OF ENERGY AND THE DEPARTMENT OF SCIENCE AND TECHNOLOGY. RESULT WAS BEEN RELEASE LAST NOV. 27, 2012 AND NOW READY FOR COMMERCIALIZATION. ON THIS CAN WE AVAIL ON THE PROGRAM OF THE BPI/IFC FINANCING PROGRAM.
DUE TO IT MAGNITUDE OF USAGE WE ARE NOW INVITING INVESTORS, COMPANIES FOR POSSIBLE JOINT VENTURES, COMPANY IS STILL ON ITS INFANCY STAGES. PLS CALL 0755664182 FOR MORE INQUIREIS.