NEA empowers electric cooperatives with P450.7 million in financial assistance

State-run National Electrification Administration (NEA) has extended loans worth PP450.66 million to 16 electric cooperatives (ECs) as of the end of May.

Among these ECs, 13 have utilized a total of P225.81 million for capital expenditure projects.

NEA provides financial assistance to ECs through its Enhanced Lending Program, which includes various types of loans such as regular, calamity, and concessional loans, stand-by and short-term credit loans, single-digit system loss loans, renewable energy loans, and modular generator set loans.