Members of the Association of Development Financing Institutions in the Pacific (ADFIP) have unanimously agreed to take on board energy efficiency and solar photovoltaic loan schemes in their regional portfolio, following recommendations from IUCN Oceania.
This decision marks the first step for ADFIP to venture into energy efficiency and renewable energy loan schemes within the region.
ADFIP is the focal point for development banking in the region and aims to provide the highest standard of recognized professional services to its members. Members from nine Pacific Island Countries, and development partners gathered in Tuvalu last week, June 24-29, for ADFIP’s 26th Annual Conference.
Presenting at the conference, Clarinda Ziegler,Energy Programme Manager of the National Development Bank of Palau, also a ADFIP member, highlighted on its current Energy Efficiency Subsidy Programme (EESP) which primarily serves to incorporate energy efficiency measures into the home loan package.
“The programme has benefited not only the customers, but also the wider economy through new businesses, employment creation, less diesel use and a renewed national interest into energy efficiency measures,” Ziegler said.
The EESP is a project which the National Development Bank of Palau is implementing under IUCN Oceania’s regional project, Managing the Ecosystem and Livelihood Implications of Energy Policies in the Pacific Island States.
With recommendations from IUCN Oceania’s Energy Programme Coodinator, Anare Matakiviti further highlighting on the plans for the Palau project to incorporate grid-connected and off grid solar systems for residential homes and small and medium enterprises, such as tourism outlets, ADFIP members agreed to accept the project concept.
“ADFIP members as agents for development in their respective countries can play an active role in the sustainable use of natural resources through their lending policies,” says Matakiviti.
Plans are in place for ADFIP members to gather in Palau later in the year for a training workshop on the administration of the successful Energy Efficiency Subsidy Programme.
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