Credit Line for Energy Efficiency and Climate Protection (CLEECP) to be implemented by the Land Bank of the Philippines (LBP) in a meeting on 21 October 2008 at the Malacañang Palace.
“It is a credit facility for those who have projects that protect the environment, provide energy efficiency, promote conservation, minimize the greenhouse effect,” Dureza told a news briefing.
He said the CLEECP would run from 2009 to 2012. A memo to the NEDA Board from the Investment Coordination Committee released by the Palace stated that German bank Kredintanstalt fur Wiederaufbau (KfW) will provide PhP 1.377 billion that would be converted to Japanese yen and be released in two tranches. The LBP will provide the remaining PhP 344.29 million.
The CLEECP aims to lower annual carbon dioxide emissions to 24 million tons through energy efficiency measures and direct emissions reduction projects, the memo said.
The scope of the project will be nationwide, but 50 percent of the overall loan amount will be made available for the Visayas and Mindanao.
The KfW will also extend a grant of 500,000 euros for technical assistance to the LBP.
The CLEECP is expected to generate 722 jobs, the ICC said.
“The project may not have a significant impact in creating new jobs… the more significant impact of CLEECP is in terms of energy savings/energy efficiency and reduction in greenhouse gas emissions,” it said.
“It is a credit facility for those who have projects that protect the environment, provide energy efficiency, promote conservation, minimize the greenhouse effect,” Dureza told a news briefing.
He said the CLEECP would run from 2009 to 2012. A memo to the NEDA Board from the Investment Coordination Committee released by the Palace stated that German bank Kredintanstalt fur Wiederaufbau (KfW) will provide PhP 1.377 billion that would be converted to Japanese yen and be released in two tranches. The LBP will provide the remaining PhP 344.29 million.
The CLEECP aims to lower annual carbon dioxide emissions to 24 million tons through energy efficiency measures and direct emissions reduction projects, the memo said.
The scope of the project will be nationwide, but 50 percent of the overall loan amount will be made available for the Visayas and Mindanao.
The KfW will also extend a grant of 500,000 euros for technical assistance to the LBP.
The CLEECP is expected to generate 722 jobs, the ICC said.
“The project may not have a significant impact in creating new jobs… the more significant impact of CLEECP is in terms of energy savings/energy efficiency and reduction in greenhouse gas emissions,” it said.
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