News: ADB offers $280-million loan to boost RP's clean air program -
27 Aug 2010
MANILA, Philippines - The Asian Development Bank (ADB) is offering a $280-million loan to bolster the government’s clean air program.In a press conference, Environment and Natural Resources Secretary Ramon Paje said.
The unique thing about this loan is that the Philippines’ counterpart funding would be offset by the carbon credits.
It will earn from the clean air projects that would be financed by the ADB loan.Paje said the loan would most likely be for on-lending from government financial institutions to transportation firms that would adopt clean air technology.</p>
<p>As part of its assistance, the ADB is also donating 30 electric, zero emission motorcycles to help the Aquino administration in its anti-pollution campaign.Paje said the e-motorcycles, are due to arrive this month. They will be used as an example to encourage a shift to the use of zero-emission motorcycles.Records, show that, there are five million tricycles all over the country, of which 2.8 million are in Metro Manila. Motorcycles create about 20 million cubic meters of pollution load annually.</p>
<p>Paje has vowed to reduce the total suspended particulates (TSP) in Metro Manila’s air by 30 percent in 2011. He said that as of 2009, the amount of TSP in the metropolis is 134 micrograms (ug)/normal cubic meters (Ncm), which is 48 percent beyond the normal standard of 90 ug/Ncm. TSPs are small solid or liquid particles suspended in air. The major sources of TSP are diesel vehicles and coal-burning power plants.</p>
<p>Source:www.PhilStar.com , by Marianne V. Go, Business Section, 08/25/2010