The local government unit of the Philippines’ premier
tourist destination finds another ally in its efforts topreserve its ecosystem
and promote environmental sustainability.
BPI Globe BanKO, the first and only mobile-based,
microfinance-focused savings bank in the country, ventured into a tripartite
agreement with the LGU of Malay, Aklan and Gerweiss Motors Corporation to
finance the purchase of electric tricycles or “e-trikes”. Certificates of credit line approval were
recently granted by BanKO to the first batch of tricycle operators in Boracay.
The e-trike project is an initiative of the LGU of Malay
headed by Mayor John Yap, who conceptualized the idea of turning Boracay into
an “e-trike island” as early as 2010. The
project will not only increase profitability for tricycle drivers and
operators, but also drastically reduce carbon dioxide emissions on the
island.
10 e-trikes from Gerweiss Motors have been ferrying tourists
around the island since December 2011.
The durability of the e-trikes, which are made of fiberglass and
specifically built for Boracay’s terrain, has been proven as all units remain
fully operational to this day. The Boracaye-trike
was developed by Gerweiss Motors, headed by its president and CEO Gerard
Villoria, with the needs of the island’s tourists in mind. The e-trikes can seat 10 passengers, and are
spacious enough to accommodate heavy loads such as luggage and water sports
equipment.
Malay LGU, BanKO and Gerweisscollaborated to design an
ecosystem that includes a fleet management system, a battery station and a maintenance hub.
BanKO’s participation involves granting loans for Boracay’s
tricycle operators, as well as loans for battery stations. With this, the operators will be able to
comply with the LGU’s policy to replacefuel-powered tricycles to the energy
efficient e-trikes that reduce air and noise pollution.
BanKO has been at the forefront in providing financial
inclusion to the lower income classes, offering loans to microentrepreneurs in
order to raise additional capital for their businesses in cooperation with
microfinance institutions.
BanKO
President Teresita B. Tan explains, “While financing for electric vehicles may
be viewed as risky because its use is not yet widespread in the Philippines, BanKO
is committed to its partnership with the local government and Sangguniang Bayan
of Malay, Aklan because we support their goals and objectives towards
environmental sustainability.Boracay is also the ideal community to pilot this
project as we plan to replicate it in other places.”
BanKO
VP for Emerging Markets Gigi Gatti adds, “This partnership banks on the
strengths of each implementing partner – Maly LGU for its policies and
incentives, Gerweiss Motors and its technology partners Toyota Tsusho Asia
Pacific and Singapore Technologies for their expertise in e-trike development,
and BanKO for its innovative financial products. Eventually, we plan to expand our sustainable
energy financing projects to business establishmentsin Boracayto help them save
on energy costs.”
The
Malay LGU maintains a very strong positioning on “greening” the environment and
the move to replace Boracay’s536 tricycles with e-trikes is viewed as fully
complementary to the tourism business, as more tourists flock to destinations
that actively promote eco-tourism.
Mayor
Yap has always been vocal about pursuing his vision for Boracay as the first
major tourist destination in the world to become an “e-trike island.”
“More
of our tricycle operators will be able to own an e-trike with the help of
BanKO. Because these vehicles are energy
efficient, their income will be higher and they will have a better quality of
life, as it is more economical to power an e-trike than a petrol-fuelled
tricycle,” Mayor Yap says.
Sangguniang
Bayan-Malay’s e-trike committee chairman Hon.
Dante Pagsuguiron agrees. “In the
policy that we have drafted, we plan to gradually phase out all conventional
tricycles and replace them with e-trikes by 2015. We will also be giving incentives to the
first 100 operators who will participate in the e-trike program and we hope
that in the coming months, there will be more operators who will be be able to secure
a credit line from BanKO.”
The
Malay LGU, BanKO andGerweiss Motors look forward to the success of the e-trike
program. “Hopefully, our program will become a model for other communities in
the country,” Mayor Yap concludes.
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