Marawi power distributor gets P150M loan
The National Electrification Administration (NEA) granted a P150-million loan to Lanao del Sur Electric Cooperative Inc., the electric cooperative providing electricity service to Marawi City, to cover for the construction materials needed in power rehabilitation works.
“We are extending loan to the tune of P150 million so that Lasureco, the Task Force Duterte Lanao Sur Power will be able to procure [the necessary construction materials],” NEA said.
The amount will be converted into subsidy chargeable to the funds for the reconstruction of Marawi.
The agency also launched the Marawi Power Restoration Rapid Deployment (PRRD) task force, to provide technical assistance to Marawi City’s speedy rehabilitation of the damaged distribution lines and power restoration.