S191.4-M ADB LOAN FOR RP POWER PROJECT
Manila, Dec. 18, 1997 - The Asian Development Bank yesterday approved loans to boost electric power distribution in the Philippines. The power project, needed to support the country's economic growth, will receive $1911.4 million.
The Philippines' electricity requirement is expected to increase by 10% in the year 2010, requiring an additional 22,400 megawatts of electricity and 9,702 kilometers of additional transmission lines.
The loan is repayable in 20 years, including a four-year grace period.
Reported by: Sol Jose Vanzi
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