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‘Diversion’ of $101M ADB loan from solar projects to e-trikes hit

By: - Reporter / @amyremoINQ
/ 08:27 PM November 28, 2011

Local groups on Monday questioned the alleged reallocation of the $101-million loan from the Clean Technology Fund that was supposed to be used for a major solar generation initiative but was instead diverted to an electric tricycle (E-trikes) project.

In a statement issued Monday, the Freedom from Debt Coalition and Greenpeace claimed that the Department of Energy (DoE) and the Asian Development Bank presented a Revised Clean Technology Fund (CTF) Investment Plan for the Philippines in a meeting of the CTF Trust Fund Committee early in November in Washington, D.C.

Based on the original plan of 2009, a total of $125 million was allocated for renewable energy and energy efficiency programs of the country. In the Revised CTF Investment Plan for the Philippines, the amount was divided to $24 million for energy efficiency and $101 million for e-trikes.

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The groups cited the lack of transparency on the part of the government as they alleged that the plan was revised without public consultation.

“How can the DoE and ADB reallocate $101 million for solar generation to e-trikes without consulting civil society, renewable energy advocates, industry members and finance groups?” said FDC secretary general Milo Tanchuling.

Tanchuling stressed that sustainable transport and renewable energy are urgently needed by the Philippines. FDC, he further said, is now seeking for explanations about the basis for the reallocation of funds and if new financing terms forged that may result in future indebtedness.

“Why does it appear as if the document prepared by the ADB with DoE implies that the government has abandoned solar and biomass? If true, this is tantamount to an abdicaton of commitment made by the government to transition towards a clean energy future. We intend to get to the bottom of this,” added Francis de la Cruz, Greenpeace Southeast Asia climate and energy campaigner.

TAGS: ADB loan, Department of Energy, e-trike, fund diversion, Government, Philippines, solar projects
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