PALAU’S ‘GREEN ENERGY’ MORTGAGE DRAWS INTEREST

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PALAU’S ‘GREEN ENERGY’ MORTGAGE DRAWS INTEREST Home loans tailored to energy efficiency

SAIPAN, CNMI (Saipan Tribune, Oct. 4, 2011) - Thirteen financing institutions from the Pacific region have gathered in Koror this week to learn from Palau's successful green home energy model.

The four day workshop titled "Home loans for Energy Efficiency and Renewable Energy Workshop," is a first to be held in the region and will inform the 13 members of the Association of Development Financing Institutions in the Pacific on how Palau has been implementing its energy home loan program.

or the past three years, the National Development Bank of Palau has been running a very good home loan program that promotes renewable energy and energy efficiency," said Anare Matakiviti, coordinator of the Energy Programme at IUCN Oceania Regional Office. "In the next few days we will inform ADFIP members how Palau is running their program and in doing so we hope that they will replicate the program in their own countries."

The energy home loan program targets new residential and commercial buildings including tourism outlets and so far has benefited not only the customers but also the wider Palau economy through new businesses, employment creation, less diesel use, and a renewed national interest into energy efficiency measures.

The workshop was opened yesterday morning by Palau President Johnson Toribiong. It was organized by the ADFIP Secretariat and IUCN Oceania Regional Office with assistance from the Center for Development Enterprise Regional Office in Suva, the SPREP PIGGAREP project and the Secretariat of the Pacific Community's North REP project. (IUCN)

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