During the ADFIAP’s 33rd Annual General Meeting held in British Columbia, Canada, the NDBP was among the bank members that were recognized for their socio-civic efforts in their respective countries. Other awardees were Oman Development Bank for SME Development for its “Credit Scoring Model for Borrower Risk Based on Expected Loss”; Small Industries Development Bank of India for Local Economic Development for its “MSME Financing & Development Project” (MSMEFDP); and DFCC Bank for Corporate Social Responsibility for its “Six-S Implementation in Schools Project 2009.”
The award, according to NDBP, was based on innovative financing and environmental projects. The particular project is called Energy Efficiency Subsidy Program, which aims to lessen the energy consumption of newly-built households in the country.
In NDBP’s Energy Efficiency Subsidy Program which was launched in January last year, a $6,000 subsidy is given to each home loaner if they comply with the requirements of the program designed to reduce energy consumption in building their homes.
“This is a special program where we ask new home loaners to consider measures that will help them reduce their electricity bills while improving the quality of their homes,” said NDBP President Kaleb Udui, Jr.
Under the program, Udui said, they encourage insulating the house; building it facing north; and using light-colored roofing, light paint, casement and big windows and solar water heaters, to name a few.
“That is $6,000 paid against their loans,” said Udui.
Udui said the program is available only to newly-constructed homes, but they will have a new program coming out called Energy Loan Program. They will have a pilot launch in July for a few houses and business establishments.
“Renewable energy is a priority for the bank,” said Udui. “It’s a priority for the country.”
NDBP’s Energy Efficiency Subsidy Program is funded by the Italian Government to help Palauan people have their own model house with power saving energy.
