Low Carbon Funds to launch in Q2, 2016

Publication Date: 23 Mar 2016

Following consultation with Low Carbon Islands’ Economist, Marco Arena, the project countries of Nauru, Niue, and Tuvalu have finalized the terms of their financial mechanism to each launch their Low Carbon Fund in Q2, 2016.

The purpose of these funds is to provide incentives for the private sector to make purchases of large appliances – refrigerators and freezers of 3.5 stars or higher and washing machines of 4 stars or higher are covered on the New Zealand and Australian Energy Labeling rating systems.

In varying operating structures for each country, these Low Carbon Funds include subsidies for loans and rebates to promote higher energy efficiency and reduction in both electricity consumption and associated emissions. For more information, please contact the following agencies in your countries:

Nauru Utilities Corporation – enquiries@nuc.com.nr

Niue Development Bank – lending@niuedevelopmentbank.com

Development Bank of Tuvalu – (+688) 20199