CITY Savings Bank Inc. (CitySavings), the thrift bank subsidiary of Union Bank of the Philippines (UnionBank) and Elaia Green Vehicles Corp. (Elaia) recently expanded the scope of their joint-motorcycle loan facility to include the City of San Pedro, Laguna.
CitySavings President and CEO Lorenzo T. Ocampo said during the signing of an agreement last September 8 the lender is “truly delighted to support” the “sustainability efforts for a greener and more environmentally-friendly city.”
Ocampo said the bank hopes to expand further the reach of the lending facility.
The executive explained the partnership “aims to contribute to the country’s efforts at promoting [the United Nations’s] Sustainable Development Goals (SDGs) 11 and 13. The former promotes ‘sustainable cities and communities’ while the latter, climate change actions.” The venture seeks to reduce greenhouse gas (GHG) emissions in the public transportation sector. According to Elaia President Ronaldo Miguel V. Puno, the company will provide the units and onsite and offsite after-sales services.
Providing opportunities
OCAMPO said that CitySavings and Elaia’s partnership also provides opportunities for tricycle drivers to increase their income to an average of P1,000 daily, as the e-trikes have a larger passenger capacity and cheaper alternative source of power through fast-charging stations.
The executive added the thrift bank seeks to show other local government units that by investing in the e-trike project, they will also help in promoting a safe, affordable and sustainable transport system for their communities.
Puno said he believes the partnership with CitySavings would “open the door to so many new opportunities of giving people better livelihoods, better lives.”
“We’re looking at a future that is sustainable; not just because we are able to reduce the pollution and carbon emissions produced by current tricycles or vehicles, but also because economically, these tricycle drivers are able to earn a more decent living and give their families more than what they need on the daily,” he added.
San Antonio Barangay Captain Eugenio S. Ynion said village officials “are looking forward to its [the project] success here and we are also excited to see how it will grow and change public transportation in the future for the better.”
A donation of one e-trike and one charging station to Barangay San Antonio and one e-trike to the City of San Pedro City, Laguna were facilitated by CitySavings and Elaia last September 8.