As reported by the financial organization on its website, the loan will strengthen the legal framework and in order to contribute to the consolidation of a sustainable energy sector, with a greater transparency and accountability.
The program also includes a series of tax incentives to promote the import and installation of conversion kits in vehicles to operate on CNG, among other segments targeted.
Companies will be encouraged to carry out energy audits and to implement other savings and efficiency measures. The organization of various campaigns of public education and awareness activities will be also supported.
By supporting these measures, the project will contribute to the efforts of Trinidad and Tobago to reduce their greenhouse gases emissions. In that sense, it is also being contemplated developing a plan to establish a Renewable Energy Center in the Caribbean, which will help to spread the benefits of using renewable energy throughout the region.
