DBP supports trash-for-cash biz

MANILA, Philippines - The Development Bank of the Philippines (DBP) remained biased towards supporting environment-friendly economic activities. Recently, it extended support to Davao del Sur-based Pontmain Resources Inc., which converts trash into cash by producing viable and environment-friendly products out of coconut husks. Pontmain Resources produces coconut fiber made into coco twine or yarn, and used in hop farms in the US and Europe. Coco twine can also be processed further into coir geonets or cocomats that are used for  controlling  erosion  in degraded areas like mountains and riverbanks. Coconut fiber  is  also  in demand in China to replace synthetic materials like foam in car seats, furniture, and mattresses. The  company  also  produces  coco  dust or peat which is utilized as animal  bedding,  organic  fertilizer, or soil conditioner. Majority of the firm’s  coco dust buyers are banana plantations which use coco dust for the tissue culture of their seedlings. The demand for coco coir has been growing with the increasing public awareness on environmental protection.  Globally, about 500,000 tons of coco coir is produced annually, mainly in India and Sri Lanka. The Philippines only produces about 10,000 tons annually. There are less than 50 coco coir producers in the country.