State-run Social Security System (SSS) is looking to help its members switch to renewable energy with the planned rollout of an Energy Sustainability Loan program next year.
“So, we are currently working on an energy sustainability loan program that would provide members solar load; we initially estimated from PHP200,000 to PHP400,000, payable over four to seven years,” SSS President Robert Joseph de Claro said in a briefing at the SSS office in Quezon City on Tuesday.
“The energy sustainability loan is something that we want to put forth because we can see the needs of our members. So we’re trying to craft a sustainable program, it addresses the needs of our members, so that they won’t have a hard time paying for monthly amortization.”
De Claro said SSS is targeting the completion of the loan’s guidelines before the end of the year.
He said SSS will earmark around PHP40 billion for the loan program.
“The rollout will be (in the) first quarter or second quarter of next year because we want to make sure that our mechanics, the safeguards are in place so that the money that the members will borrow will go to the purchase of solar at home,” de Claro said.
“And also we’re actually thinking today that it can go to a down payment of an electric vehicle. So we’re already studying the mechanics, but in terms of the earmarked funds, it’s about
