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ILOILO CITY—The government is looking at sourcing out loans from the World Bank and Asian Development Bank to partially fund the government’s 100-percent household electrification target by 2028.
Guevara said, however, the Philippines would generate P315 billion in economic benefit by achieving total electrification, which is equivalent to 1.8 percent of the 2023 gross domestic product. Guevara said state-run agencies National Electrification Administration and National Power Corp. are in charge of fulfilling the total electrification target by 2028 as ordered by President Ferdinand Marcos Jr.
She said the DOE last week presented to the National Economic Development Authority and the Department of Finance the agency’s request for P72-billion funding, which received positive response because of the expected economic benefits based on study conducted by the agency and the Philippine Statistics Authority.
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