LAND BANK of the Philippines (LANDBANK) said it will collaborate with the Department of Environment and Natural Resources (DENR) to provide financial and technical support to water-related projects.
“LANDBANK reiterates its commitment to provide accessible financing to water districts, LGUs, and other entities engaged in water supply, sanitation, and conservation projects. Together, we aim to build resilient communities, strengthen public health, and secure the country’s water future,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz said in a statement on Wednesday.
Under the agreement, LANDBANK and the DENR will extend financial support to water districts, local government units (LGUs), and other institutions engaged in water supply, sanitation, and conservation initiatives.
The partnership will be pursued under LANDBANK’s H2OPE Lending Program (Water Program for Everyone), which has so far released P5 billion to 35 borrowers as of August.
“This enhanced collaboration will further scale up support for water-related initiatives nationwide,” she said.
LANDBANK will fund and design financing programs for projects, pursue concessional lending opportunities, and provide related financial services.
LANDBANK and the DENR will also jointly develop and manage projects for financing by the Green Climate Fund. The bank is a Direct Access Entity participant in the fund.
“Integrated water management is a challenge that we need to be constantly working on. With LANDBANK’s support as the implementing agency for the loan facility, we can move forward with ease, without having to establish a new system and new agencies to administer the same. Through this partnership, we will also explore a responsive loan instrument for water service providers to better support their operations and improve access to safe water across communities,” Environment Secretary Raphael P.M. Lotilla said.
The DENR’s role is to identify priority water programs for financing and provide guidance in water resource management, conservation, and environmental impact assessments.
It will likewise assist eligible proponents in obtaining environmental permits and approvals.
Eligible projects for financing under the partnership include the development and rehabilitation of water supply systems, wastewater treatment, watershed protection, and other climate-resilient water resource projects aligned with national policies and United Nations Sustainable Development Goal 6 on clean water and sanitation for all. — Aaron Michael C. Sy