IFC
Loans will be provided to homeowners’ associations that are participating in the Energy Efficiency Fund programme
It is designed to increase climate lending by participating banks to 30% of their portfolios by 2030, while reducing exposure to coal
Green buildings are expected to help save more than 20% on energy and water consumption compared to typical buildings
Using solar power for pumping water is estimated to help farmers save $875m annually in diesel fuel costs
IFC and the Hong Kong Monetary Authority will bring together financial and research institutions as well as technology providers to develop, build and boost the capacity for green finance
The $15m project will help reduce Fiji’s dependence on imported fossil fuels and cut emissions, whilst supporting as many as 14,000 households to transition to solar energy
Around 120 financial institutions have access to the platform, with $5.8bn of climate disbursed loans reported so far
With 10% of global greenhouse gas emissions coming from cooling, new solutions are critically needed to address the climate footprint of growing demand
The financing will support the establishment of an anaerobic biodigester to produce renewable energy from animal waste that will be sold to the grid
The funding from IFC will enable VPBank to expand its lending to small and medium businesses and boost financing for projects that help reduce carbon emissions