State-owned Development Bank of the Philippines (DBP) received a certificate of merit for its program, the Philippine Water Revolving Fund (PWRF), during this year’s Global Sustainable Finance Awards held recently in Karlsruhe, Germany. DBP’s program was among the many projects from all over the world that were nominated.
The PWRF mobilizes private capital and augments private resources for much-needed investments in water supply and sanitation projects in the Philippines. DBP is the fund administrator of the PWFRF, a joint undertaking of the governments of the Philippines, Japan and the United States. Funding support for the PWRF is through DBP’s Environment Development Project (EDP) loan facility funded by the Japan International Cooperation Agency (JICA).
The Global Sustainable Finance Awards honors financial institutions and organizations with significant contributions to the field of sustainable finance, provides recognition to financial institutions that have successfully embedded economic, social and environmental sustainability into their businesses and promotes the growth of green financial instruments and markets worldwide. The said awards program was organized by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) and the European Organization for Sustainable Development (EOSD).