PHILIPPINES- RURAL ELECTRIFICATION III (DLC/P-2061)

Nea will relend the proceeds of the loan to qualifying rural electric cooperatives. Cooperatives will use sub-loans to either construct core distribution systems or expand existing systems through the financing of distribution equipment, poles and crossarms, construction labor, headquarters facilities (excluding the power plant), engineering services, substations, and miscellaneous expenses. The loan will finance the development of up to 12 such coops. The overall program target will be the development of 52 electric cooperatives. Part of the loan will be used to continue the services of: (1) a management consultant (from the National Rural Electric Cooperative Association) to assist in the organization and management of individual electric cooperatives; and (2) an engineering consultant (from Stanley Consultants) to provide assistance to the coops and private Filipino engineers and contractors.