State-owned Development Bank of the Philippines was recognized by an international association of development banks and financial institutions for its efforts to promote energy efficiency in the country, a top official said Friday.
DBP president and chief executive Emmanuel Herbosa said the bank’s Energy Efficiency Savings Financing Program was awarded a plaque of merit under the environmental development category of the annual Association of Development Financing Institutions in Asia and the Pacific Development Awards held in Pasay City.
“We are truly grateful and honored to be a recipient of this citation for our development efforts under the DBP E2SAVE program,” Herbosa said. “This recognition from the ADFIAP is an attestation of the Bank’s continuing efforts for the unimpeded delivery of financial services to further drive economic growth.”
DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy—infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.
The DBP E2SAVE Program is designed to help public and private institutions improve their productivity by harnessing available new technologies in the market for their energy efficiency and renewable energy (for own use) projects. It also allows loan repayment based on electricity savings to make investment affordable to end-users.
