Based on the data of the National Electrification Administration's (NEA) Accounting Management and Guarantee Department (AMGD), the agency extended PhP846.71 million worth of loans to 22 Electric Cooperatives (ECs) as of 31 August 2023.
According to AMGD's data, PhP411.86 million was utilized for the Capital Expenditure (CAPEX) loans of 16 ECs, namely the First Laguna Electric Cooperative, Inc. (FLECO), Quezon I Electric Cooperative, Inc. (QUEZELCO I), Sorsogon I Electric Cooperative, Inc. (SORECO I), Iloilo III Electric Cooperative, Inc. (ILECO III), Northern Negros Electric Cooperative, Inc. (NONECO), Camotes Electric Cooperative, Inc. (CELCO), Bohol II Electric Cooperative, Inc. (BOHECO II), Leyte V Electric Cooperative, Inc. (LEYECO V), Zamboanga del Norte Electric Cooperative, Inc. (ZANECO), Misamis Oriental I Rural Electric Service Cooperative, Inc. (MORESCO I), Bukidnon Second Electric Cooperative, Inc. (BUSECO), Davao del Sur Electric Cooperative, Inc. (DASURECO), Siasi Electric Cooperative, Inc. (SIASELCO), Basilan Electric Cooperative, Inc. (BASELCO), Siargao Electric Cooperative, Inc. (SIARELCO) and Surigao del Sur I Electric Cooperative, Inc. (SURSECO I).
Meanwhile, PhP372 million was borrowed by 7 ECs as Working Capital, namely Central Pangasinan Electric Cooperative (CENPELCO), Aurora Electric Cooperative, Inc. (AURELCO), First Laguna Electric Cooperative, Inc. (FLECO), Antique Electric Cooperative, Inc. (ANTECO), Zamboanga del Sur II Electric Cooperative, Inc. (ZAMSURECO II), Lanao del Norte Electric Cooperative, Inc. (LANECO) and Misamis Oriental II Electric Cooperative, Inc. (MORESCO II).
Misamis Oriental I Electric Cooperative, Inc. (MORESCO I) borrowed PhP12.85 million for its Modular Generator Set. While Lanao del Norte Electric Cooperative, Inc. (LANECO) availed a PhP50 million Short-Term Credit Facility (STCF) loan.
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. ###
