As the Philippine economy steps up on its recovery journey from the scourge of the coronavirus pandemic, the NEA has extended credit facilities to electric cooperatives (ECs) that would the P1.2 billion-level approved last year.
As the Philippine economy steps up on its recovery journey from the scourge of the coronavirus pandemic, the National Electrification Administration has extended credit facilities to electric cooperatives that would the P1.2 billion-level approved last year.
The agency emphasized that the bulk of loan availments by the ECs at P561.10 million had been funneled to the capital expenditure projects of the power utilities – to include La Union Electric Cooperative, Inc. , Tarlac I Electric Cooperative, Inc. , Quezon I Electric Cooperative, Inc. , Quezon II Electric Cooperative, Inc. , First Laguna Electric Cooperative, Inc. , Oriental Mindoro Electric Cooperative, Inc. , Occidental Mindoro Electric Cooperative, Inc.
The recipients had been mainly the ECs hammered by super typhoons Kiko and Odette when that extreme weather condition barreled the country in September and December 2021, respectively.
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