DBP grants loan to Bohol electric cooperative

State-owned Development Bank of the Philippines (DBP) signed today a P109.62 million term  loan agreement with Bohol I Electric Cooperative (BOHECO  I) for the improvement of its services to 111,985 households in 26 municipalities of Bohol.

DBP chief operating officer Edgardo F. Garcia said the loan will help improve  the  reliability,  efficiency, and safety of BOHECO I’s distribution  system by addressing the overloading of distribution lines and transformers and load requirements of its new consumers.

The loan will be specifically used to finance the installation of a 10MVA substation in Panglao, Bohol; construction of a 69kV transmission line; and the rehabilitation of BOHECO’s distribution line.

Garcia added that the loan will help reduce the electric cooperative’s system loss which should  translate to reduction of consumers’ bills. Improvement of distribution transformers capacities is  also expected to help BOHECO I address the growing demand for electricity in the province.