Ayala-led bank funding E-tricycle project in Boracay

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BPI Globe BanKO, the first mobile-based savings bank in the country, will bankroll the first electric tricycle project in Boracay, a move that will help drivers and transport operators in the area purchase E-trikes.

Recently, BanKO, a joint venture between Ayala-led firms Globe Telecoms Inc. and Bank of the Philippine Islands, ventured into a tripartite agreement with the local government of Malay, Aklan, and Gerweiss Motors Corp., to provide the country’s first-ever loan for an E-trike project.

Operating E-tricycles is in compliance with the local government unit’s initiative to promote environmental sustainability in the island.

The 10-seater E-trikes developed by Gerweiss Motors Corp. were given to local drivers and transport operators through BanKO’s E-trike loan.


The bank, however, didn’t mention any amount involved in the agreement or the price of each E-trike.

“Through this program, we can support the local government of Malay, Aklan, in making the island envi-ronmentally sound and tou-rist-friendly.

Eventually, we will expand these programs to other tourism areas, carrying the same objectives of financial inclusion and sustainable development,” said John Rubio, head of BPI Globe BanKO.

“BanKO is committed to provide innovative banking products that foster corporate social responsibility and sustainable development. The E-trike loan program will help increase the local driver and operator’s income and at the same time provide a cleaner and greener Boracay,” he added.

The E-trike project is considered the best solution to replace Boracay’s 536 fuel-powered tricycles with environment-friendly vehicles. Boracay is the first major tourist destination in the world to become an “E-trike island.”

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