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Lasureco to receive P150-M loan from NEA

Marawi City, Lanao del Sur
November 14, 2017

For the immediate reconstruction of Marawi, the National 
Electrification Administration (NEA) will grant to Lanao del Sur  Electric Cooperative (Lasureco) a loan in the amount of P500 Million that will be used for the procurement of the construction materials needed for the restoration of distribution lines.

NEA Administrator Edgardo Masongsong made the announcement during the launching of Marawi Power Restoration Rapid Deployment (PRRD) Task Force at the Lower Capitol Complex here Monday.

The said amount, the NEA chief explained, will be converted into subsidy chargeable to the funds for the reconstruction of Marawi.

He said he already instructed Deputy Administrator for EC Management Services Atty. Goldelio Rivera and Deputy Administrator for Technical Services Engr. Artis Nikki Tortola to process the loan. 

"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]," Masongsong said.

Masongsong led on Monday the launching ceremony of the Marawi PRRD  Task Force with Housing Assistant Secretary Felix Castro Jr., field manager of Task Force Bangon Marawi. (RSP)
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