The National Electrification Administration (NEA) has extended a total of P960.85 million worth of loans, including calamity loans, to 31 electric cooperatives (ECs) from 1 January to 31 August 2022.

Based on the latest data from the NEA Accounts Management and Guarantee Department (AMGD), P505.76 million of the said amount went to 10 ECs as calamity loans used for the repair and rehabilitation of their damaged power distribution systems due to previous typhoons Kiko and Odette. These were the Batanes Electric Cooperative, Inc. (BATANELCO), Palawan Electric Cooperative, Inc. (PALECO), Bohol I Electric Cooperative, Inc. (BOHECO I), Bohol II Electric Cooperative, Inc. (BOHECO II), Cebu I Electric Cooperative, Inc. (CEBECO I), Negros Oriental I Electric Cooperative, Inc. (NORECO I), Leyte IV Electric Cooperative, Inc. (LEYECO IV), Southern Leyte Electric Cooperative, Inc. (SOLECO), Misamis Oriental II Electric Cooperative, Inc. (MORESCO II) and Surigao del Norte Electric Cooperative, Inc. (SURNECO).

Meanwhile, the P303.73 million was used for the capital expenditure projects of 19 ECs namely the Basilan Electric Cooperative, Inc. (BASELCO), Bohol I Electric Cooperative, Inc. (BOHECO I), Bohol II Electric Cooperative, Inc. (BOHECO II), Bukidnon Second Electric Cooperative, Inc. (BUSECO), Camarines Sur I Electric Cooperative, Inc. (CASURECO I), Camarines Norte Electric Cooperative, Inc. (CANORECO), Davao Oriental Electric Cooperative, Inc. (DORECO), First Laguna Electric Cooperative, Inc. (FLECO), Iloilo III Electric Cooperative, Inc. (ILECO III), La Union Electric Cooperative, Inc. (LUELCO), Leyte IV Electric Cooperative, Inc. (LEYECO IV), Northern Samar Electric Cooperative, Inc. (NORSAMELCO), Quezon I Electric Cooperative, Inc. (QUEZELCO I), Quezon II Electric Cooperative, Inc. (QUEZELCO II), Siargao Electric Cooperative, Inc. (SIARELCO), Surigao del Sur I Electric Cooperative, Inc. (SURSECO I), Tarlac I Electric Cooperative, Inc. (TARELCO I),  Zamboanga del Sur II Electric Cooperative, Inc. (ZAMSURECO II) and Zamboanga del Norte Electric Cooperative, Inc. (ZANECO).

The P101.36 million went to Abra Electric Cooperative, Inc. (ABRECO), Busuanga Island Electric Cooperative, Inc. (BISELCO), Camarines Sur III Electric Cooperative, Inc. (CASURECO III) and Camotes Electric Cooperative, Inc. (CELCO) as working capital loans and the remaining P50 million went to Lanao del Norte Electric Cooperative, Inc. (LANECO) as a short-term credit facility.

The NEA has been offering financial assistance to ECs through its Enhanced Lending Program, which consists of regular, calamity and concessional loans, stand-by and short-term credit loans, single-digit system loss, renewable energy and modular generator set loans.###