The Government is in discussions with the Inter-American Development Bank (IDB) on financing for a US$13 million energy saving programme for the public sector, projected to start this year. An energy audit has identified potential savings of US$30 million per annum from the project, Minister of Finance and the Public Service, Hon. Audley Shaw, told the House of Representatives Thursday April 28, as he opened the 2011/2012 Budget Debate.
Mr. Shaw noted that, in recognition of the need for energy efficiency, the Government has already entered into a technical assistance agreement with the IDB for a grant of US$350,000, to identify and address energy efficiency in the public sector. In the meantime, the completed energy audits have been distributed to the related entities, to commence implementing energy saving initiatives that do not require capital.
Additionally, Mr. Shaw said Government will also sign a $1.3 billion (US$15 million) loan agreement with the World Bank (WB), to finance an energy security and efficiency enhancement project. “The loan will fund various projects which will be administered by the OUR (Office of Utilities Regulation), the Bureau of Standards and the Development Bank of Jamaica (DBJ),” he outlined.
via – JIS