Energy Efficiency News (USA)
The World Bank is providing $2.5 million to support private sector energy efficiency efforts in Jamaica.
The funds from its World Energy Security and Efficiency Project will support a pilot energy efficiency financing mechanism that will give the private sector access to renewable and energy efficient equipment.
If the pilot scheme is successful, additional resources could be made available, said Jamaican Minister of Energy and Mining, James Robertson.
“We have applied for additional funding from the World Bank for up to $4.5 million for this and other programmes. We anticipate approval as soon as the current initiatives prove successful,” he says.
The additional funds would expand the load scheme to householders to support installation of solar water heaters and other energy conservation and efficiency systems at low interest rates.
The support mechanism could also pave the way for introducing an energy saving and efficiency condition into home improvement loans provided by the National Housing Trust.
Robertson also announced that the Development Bank of Jamaica (DBJ) has earmarked $700 million from the Caribbean Development Bank’s (CDB) Agricultural Support Fund as credit for energy efficiency and conservation measures, along with $500 million for SMEs.