The National Electrification Administration (NEA) has disbursed approximately half of its target loan releases to electric cooperatives (ECs) in the Philippines. During 2021, NEA plans to extend PHP500 million in loans (excluding calamity loans) to help ECs meet their funding needs while undertaking rural electrification programs. Total loans, including calamity loans, disbursed between January 2021 to April 2021 amount to PHP225.56 million, nearly half of NEA’s target amount.
In April 2021, the agency disbursed PHP123.12 million in loans to five ECs across the country to boost their rural electrification infrastructure. The funds were awarded to Quezon I Electric Cooperative Incorporated (QUEZELCO I), La Union Electric Cooperative Incorporated (LUELCO), Bohol II Electric Cooperative Incorporated (BOHECO II), Bukidnon Second Electric Cooperative Incorporated (BUSECO) and Bantayan Island Electric Cooperative Incorporated (BANELCO). LUELCO received PHP74.591 million, for the development, deployment, and commissioning of its 15 MVA Sison substation and 69kV sub-transmission lines. BUSECO received PHP21.530 million for the purchase of materials to upgrade its secondary lines. The NEA loaned BANELCO PHP5 million in working capital for its power accounts, while QUEZELCO I received PHP3.560 million.
A combined total of PHP42.9 million as calamity loans was allocated to four EC’s, including Quezon I Electric Cooperative I Incorporated, Marinduque Electric Cooperative Incorporated, Camarines Sur III Electric Cooperative Incorporated and Oriental Mindoro Electric Cooperative Incorporated. The funds were allocated to repair and restore their power distribution systems and other facilities, that were previously destroyed by typhoons Quinta, Rolly, and Ulysses in 2020.