STATE-OWNED Development Bank of the Philippines (DBP) has been recognized by an international body of development financing institutions for its pioneering financing facility that focuses on the development and growth of the renewable energy sector, a top official said.
DBP President and CEO Michael de Jesus said that the Association of Development Financing Institutions in Asia and the Pacific (Adfiap) conferred on DBP the award of merit for the Bank's Solar Merchant Power Plant (SMPP) Financing Program, which supports utility-scale solar power developers and bolsters overall investment in renewable energy projects.
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