Security Bank Corporation (PSE:SEBC)
and the ECO-Asia Clean Development and Climate Program
(ECO-Asia) have signed a cooperation agreement to assist
clean energy project developers in the Philippines access
local and international sources of financing.
The participation of Security Bank Corporation
(SBC), one of the country’s leading universal banks
signifies its support to serve the funding requirements
of local clean energy project developers. It also recognizes
the financial viability of environmental-friendly projects that will
encourage the business sector to tap the potential of clean energy projects.
ECO-Asia, a project of the U.S. Agency for International
Development (USAID) Regional Development Mission for Asia,
develops policy and finance solutions for clean energy through
targeted assistance, training, regional cooperation, and knowledge
sharing. ECO-Asia takes a regional approach by building
partnerships in the six countries where it works: China, India,
Indonesia, the Philippines, Thailand, and Vietnam.
ECO-Asia will assist Security Bank in assessing the
technical and financial viability of clean energy projects
through the Private Financing Advisory Network (PFAN),
a multilateral partnership initiated by the Climate Technology
Initiative (CTI) and managed in Asia by ECO-Asia.
Since early 2009, PFAN networks that match clean energy projects
with sources of funding have been set up in the Philippines,
China and Indonesia. PFAN now has 35 projects in its pipeline
in Asia with combined investment potential of over US$1.2 billion.
The partnership agreement was signed recently by (from left),
SBC Senior Vice President and Corporate Banking Group Head, Ma.
Cristina A. Tingson, SBC President and CEO, Alberto S. Villarosa,
ECO-Asia Chief of Party Dr. Peter du Pont and Laurie B. Navarro,
PFAN – Philippines Coordinator.
|
