Philippines : Green financing established by JBIC

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A credit line of up to USD 50 million has been established by the Japan Bank for International Cooperation (JBIC) with Philippines’ BDO Unibank (BDO) in response to promoting the environmental preservation (GREEN) scheme and its global action to restore economic growth.

The JBIC has financed Philippines’ first green facility, and plans to contribute towards environment-related projects fore reducing greenhouse gases (GHG) aimed to be cut down by 70% by 2030.

According to representatives of JBIC Manila, the ‘green-specific’ projects such as renewable energy projects (wind and solar farms), geothermal plants and also energy efficiency improvement projects in the building and construction industry will all be financed using US dollars.

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