The National Electrification Administration (NEA) has provided a substantial increase in state-funded loans to electric cooperatives (ECs) in 2024, supporting rural electrification projects across the Philippines.
The National Electrification Administration ( NEA ) reported a significant increase in state-funded loans provided to electric cooperatives (ECs) in 2024. A total of P1.8 billion in loans benefited 36 ECs, surpassing the P1.002 billion lent to 28 ECs in 2023. Data from the NEA 's accounts management and guarantee department revealed that P1.19 billion was allocated to capital expenditure projects undertaken by ECs across various provinces.
These projects spanned Bataan, Bohol, Bukidnon, Camarines Sur, Capiz, Cebu, Davao del Sur, Iloilo, Leyte, Masbate, Misamis Oriental, Negros Oriental, Northern Samar, Nueva Ecija, Romblon, South Cotabato, Sultan Kudarat, Sulu, Surigao del Norte, Surigao del Sur, Tarlac, and Zamboanga del Norte.Complementing these capital expenditure loans, P607 million in working capital loans were distributed to ECs serving communities in Capiz, Camarines Sur, Camotes Island, Davao del Norte, Guimaras, Kalinga Apayao, Marinduque, Negros Oriental, Sultan Kudarat, and Ticao Island. Notably, Bohol I Electric Cooperative Inc. secured a P13.33 million calamity loan to facilitate the rehabilitation of the Janopol Mini-Hydro Power Plant, which suffered extensive damage during Super Typhoon Odette in 2021. These loan disbursements were executed through the NEA's Enhanced Lending Program.In January, the NEA outlined its ambitious target of achieving 94 percent rural electrification by the end of 2025 and 100 percent by 2028. Despite budgetary constraints, the agency emphasized its commitment to prioritizing Mindanao provinces in its electrification efforts
ELECTRIC COOPERATIVES RURAL ELECTRIFICATION NEA LOANS MINDANAO
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