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The World Bank recently approved a $12.94-million loan to help the
National Transmission Corp. (TransCo) stabilize the power supply in
the Bicol Region by replacing electricity transmission
infrastructure damaged by the 2006 typhoons.
The World Bank offered the Philippine government
an emergency support operation to respond to the pressing need to
rebuild the Bicol region immediately after Supertyphoon “Reming”
devastated the area in November 2006, killing over 700 people,
toppling power lines and burying villages in mud.
“With its timely emergency funding, the World
Bank is helping us restore stability to our power supply which will
benefit not only the residents of the Bicol region who were affected
directly by Reming, but also those who are receiving electricity
from the inter-connected Luzon Grid,” Energy Secretary Angelo
Reyes said.
The emergency support would finance most of the
electricity transmission infrastructure that TransCo needs to build
in the region since Reming. Construction started shortly after the
typhoon and is expected to be completed by the first quarter of
2008.
The project will also improve TransCo’s
capability to build stronger infrastructure that will make the power
supply in Bicol and the nearby areas less vulnerable to strong
typhoons.
“The project reflects the World Bank’s
ability to quickly respond to natural and man-made disasters. It
supports the need to ensure secure power supply to all parts of the
country, especially the most vulnerable areas such as the Bicol
region,” said Bert Hofman, the bank’s Philippines Country
Director.
The loan will be used to fund the ongoing
replacement of 118 transmission towers in Bicol. It is part of a
larger $21.6-million program jointly financed by the government and
the World Bank to provide TransCo with 11 additional emergency
restoration structures, establish a program that will strengthen the
power system against typhoon damage, and remove infrastructure constraints
to the region’s economic development.
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