Our Projects

Sustainable Energy Finance Program — Philippines (PSEF)

Building on the experiences accumulated with its sustainable energy financing programs in Central Europe, Russia and China, IFC has established a sustainable energy financing program in the Philippines. This program aims to build the capacities of local financial institutions to increase commercial financing to renewable energy and energy efficiency projects.

The Philippines is the 9^th country in the world to have been chosen for the implementation of the SEF Program because of its numerous energy efficiency and renewable energy market opportunities. Due to rising electricity costs and the looming power shortages throughout the country, there is an estimated $1Billion potential for local sustainable energy financing.

Through the SEF Program, IFC offers the following support to local partners:

• Advice to financial institutions and borrowers on the business case for renewable energy and energy efficiency
• IFC credit lines and partial guarantees (up to 50% of loan principal) for local banks and leasing companies)
• Networking between local banks and major players in the energy business such as project developers, property managers, energy service companies, equipment suppliers, and operation and maintenance companies
• Broad scope of technical assistance for all program participants, including energy audits, review of feasibility studies, and training in structuring and marketing financial products
• Eligible projects: financially viable, resulting in energy savings or clean energy generation, reducing greenhouse gas emissions, and meeting the specific financial institutions’ credit requirements.

Launched in January 2008, IFC has so far partnered and is continuing to work with two major Philippine financing institutions.

Bank of the Philippine Islands ("BPI")
www.bpi.com.ph

As the first private commercial bank in the country and in Southeast Asia, the Bank of the Philippine Islands has maintained a leadership position in consumer and trust banking, asset management, corporate banking and finance, and bank assurance. With over 700 branches and about 1,100 automated teller machines, BPI has the largest combined network in the country, serving some 3 million depositors.

IFC is currently working with BPI on developing financing products for energy efficiency and renewable energy projects with focus on manufacturing and industrial plants, office buildings, hotels, schools and hospitals.

Metropolitan Bank and Trust Company ("METROBANK")
www.metrobank.com.ph

Metrobank is the country’s largest universal bank with over 800 local and international branches, subsidiaries and affiliates worldwide. METROBANK has maintained its top position in the industry with over Php 700 billion in resources.

IFC is currently working with Metrobank on developing loans and other financing products specifically designed for electric cooperatives in the countryside. These loans aim to enhance productivity of these rural power distribution institutions by funding replacement and purchase of inefficient capital equipment.

Learn more about our work with Sustainable Energy Finance:

• Download the Sustainable Energy Finance brochure [PDF]

Project contacts:

William Beloe Program Manager, Sustainability IFC Advisory Services Telephone: +63 2 848-7333 Email: wbeloe@ifc.org		Romel Carlos Associate Operations Officer Sustainable Energy Finance Telephone: +63 2 848-7333 Email: rcarlos@ifc.org
Russell Sturm Principal Project Officer Telephone: (202) 458-9668 Email: RSturm@ifc.org