COPENHAGEN, Denmark (via PLDT) — The Philippines has obtained a $250-million loan from the Clean Technology Fund (CTF) under the climate investment fund established to assist developing countries' transition to green technologies to finance renewable source of energy projects.

Meanwhile, the World Bank and the Asian Development Bank (ADB) commended President Gloria Macapagal-Arroyo for "taking on a leadership role in tackling the climate change challenges" in the region.

"Your presence at the 15th session of the Conference of the Parties (CoP) to the United Nations Framework Convention on Climate Change exemplifies your continued commitment to support the joint effort to develop an ambitious and fair global framework beyond 2012," ADB President Haruhiko Kuruda and World Bank President Robert Zoellick said in a joint statement released here.

Both heads of ADB and World Bank vowed to assist the government in bringing down the country's carbon footprints through projects that are more environment friendly like those financed by the CTF.

ADB and World Bank "stand committed to support" the Philippine government in implementing its investment plan that will promote renewable energy, energy efficiency, and clean urban transport.

Energy Secretary Angelo Reyes announced the country is the first economy in the Southeast Asian region to be given a CTF loan payable in 40 years.

Reyes, a member of the delegation that accompanied Mrs. Arroyo here, said that 80 percent of the soft loan will be used to finance clean and renewable energy projects in the country.

The balance of $50 million will bankroll transportation projects using alternative energy.

The financing package is one of the highlights of the series of bilateral talks the President and her official delegation held at the sidelines of the gathering of 119 leaders for this year's two-day 15th Conference of Parties on Climate Change here.

This is on top of the $10-million investment the country obtained from the Industrialization Fund for Developing Countries or IFU, Press Secretary Cerge Remonde told reporters.

The financing commitment from IFU will finance water supply projects in the country, the fine print of which will be discussed in future meetings, Remonde said.

Mrs. Arroyo, likewise, held talks with Danish businessmen and representatives of Danish aid agency, DANIDA, including officials of Vestas AG and Lindberg, a world-famous eyeglass company which operates a facility in Subic.

Remonde said the meetings were fruitful with officials indicating interest in funding the country's climate-mitigation agricultural projects. For one, Vestas has agreed to expand its wind power operations in the Philippines.

Vestas, Denmark's leading producer of high technological wind power solutions, is involved in the Northwind Bangi Bay Project, the first windmill farm in the region.

Remonde said Vestas informed the President of its willingness to set up similar windmill farms apart from its current project of increasing the wind turbines in Bangi Bay to 20 from the present 15.

Possible new locations include Daet, Camarines Sur, Batanes and Tagaytay, the press secretary revealed.

Remonde said the President thanked the Danish companies for making significant investments in alternative energy projects.

Mrs. Arroyo also held talks with officials of the Conservation international headed by its chairman Patrick Seligman, who Remonde said praised the Philippines for taking a lead role in the preservation of the coral triangle considered to be the world’s richest site of marine biodiversity.