The World Bank is setting up a guarantee fund of $44 million to help electric cooperatives in the Philippines obtain loans from commercial banks. The fund will support the Philippines’ Department of Energy’s Electric Cooperative Partial Credit Guarantee Program that provides partial credit guarantees to commercial banks lending to electric cooperatives. These loans are used to finance network expansion and renewable energy projects. The additional $44 million from the World Bank will create an investment opportunity of about $100 million for the electric cooperatives.
