OVER a billion pesos worth of loans granted to electric cooperatives last year, the National Electrification Administration (NEA) said.

According to a report from the Accounts Management and Guarantee Department (AMGD), the NEA had facilitated P1,002,540,867.31 loans to 28 electric cooperatives by the end of 2023.

Just this December, the AMGD had processed P27 million worth of loans for the working capital of ECs.

Under the said figures, some P1-billion worth of loans had been released, P479.69 million had been loaned for 19 power cooperatives for their capital expenditure requirements.

Among the NEA granted loans that 19 electric cooperatives located in Basilan, Bohol, Bukidnon, Camotes Islands, Davao del Sur, Iloilo, Laguna, Leyte, Misamis Oriental, Negros Occidental, Northern Samar, Quezon Province, Siargao, Siasi, Sorsogon, South Cotabato, Surigao del Sur, Tawi-Tawi, and Zamboanga del Norte.