Brightness Program

Description

A credit facility that will accelerate rural electrification through provision of financing support to the power industry.

Eligible Borrowers

  • Electric Cooperatives coded “GREEN” or “YELLOW” and rated at least “AVERAGE (B)” by NEA.
  • Joint venture consortium of ECs.
  • Wholesale Power Aggregators.

Eligible Projects

  • Feasibility Study preparation
  • Construction, upgrading or rehabilitation of power generation and distribution systems.
  • CAPEX.

Loan Purpose

 

  • Working Capital
  • Fixed Asset Investment
  • Bank Guarantee

 
Amount of Loan

75% of project cost.

 

Term of Loan

  • Short term - 1 year
  • Feasibility Study – 3 years
  • Equipment – 10 years
  • Other Term Loans

     - Up to 10 years (internal)

     - Up to 15 years (ODA Fund)

Loan Security

  • Assignment of proceeds of power billings and other receivables.
  • Securities acceptable to the bank (i.e. REM, Chattel, Guarantee, etc.)

Contact Number/Person

Ms. Minda Narciso / 522-0000 local 2448 and Ms. Ana Antepuesto / 522-0000 local 2589.