Landbank, USAID arm sign clean energy pact

MANILA, Philippines - The Land Bank of the Philippines and the USAID ECO-Asia Clean Development and Climate Program (ECO-Asia) have signed an agreement to jointly pursue initiatives in sustainable, clean energy projects.

Landbank and ECO-Asia will work on the development and expansion of the Private Financing Advisory Network (PFAN) in the Philippines. PFAN is an alliance of private sector companies that identifies clean energy projects at an early stage and provides mentoring for development of business and investment plans and growth strategies.

As the regional coordinator of PFAN, ECO-Asia provides mentoring to project developers involved in clean energy projects and links them with markets and investors to assist in the start-up and scale-up of their investments.

Landbank, through this partnership, aims to help expand access to financing and mentoring services for clean energy entrepreneurs and project developers in the Philippines. Under the agreement, Landbank and ECO-Asia will work together to promote the PFAN clean energy financing initiatives in the country and build a network of like-minded entities to expand the reach of the project.

Landbank’s expertise in rural development and entrepreneurship in the agricultural sector will complement PFAN’s portfolio of renewable energy projects that use resources such as biomass, biogas, waste, wind, and hydro energy in municipalities and rural areas across the Philippines.

The strategic partnership will likewise support the implementation of Landbank’s Carbon Finance Support Facility for programs on Clean Development Mechanism and Renewable Energy projects. – Marianne Go