JMH offers SOLAR loan

by: MBColumna | 2018

After final deliberation and assessment of submitted Green Inclusive Finance (GIF) initiative proposals and tentative budget plans of different microfinance institutions, the Microfinance Council of the Philippines, Inc. (MCPI) announced last April 2, 2018 that JMH Microfinance, Inc. (JMH) has been selected as one of the three (3) MFIs that will receive technical assistance from MCPI’s GIF initiative.

The GIF initiative is a joint project among MCPI, Appui au Développement Autonome (ADA) of Luxembourg and Ministère du Développement durable et des Infrastructures (MDDI) of the Government of Luxembourg Promoting Renewable Energy in Microfinance Institutions called the Promoting Renewable Energy in Microfinance Institutions with the goal of providing clean energy access to households, micro and small businesses in energy-poor communities. The ultimate outcome of the project is to improve the economic and social well-being of small and micro-entrepreneurs while simultaneously benefiting the environment and mitigating the harmful effects of climate change.

JMH’s proposed renewable energy loan is named Sustainable Operations of Livelihood Activities and Residences Loan or the JMH SOLAR Loan. The decision to target coastal communities for this loan product is strategic given the power situation in coastal communities, as well as the limitations in economic activities and opportunities brought about by the climatic and power access situation.

Thus, this proposed product is pilot tested in the selected coastal barangays of the municipalities of Calabanga and Tinambac in Camarines Sur.

Last June 20, 2018, JMH, represented by its President, Ms. Charisma D. Lascota, signed a memorandum of agreement with MCPI, represented by its Executive Director, Mr. Allan Robert I. Sicat, to establish, manage and operate the project. This is also in partnership with Greenlight Planet, Hybrid Social Solutions, Inc. (HSSi) and Power4All, Inc. who were the chosen suppliers of the solar loan products.

The technical assistance includes support in the conduct of an energy needs assessment, business planning, pilot planning and implementation, and monitoring and evaluation. A direct grant amounting to EUR10, 000 will be provided to support the implementation of JMH’s green energy loan program.