The Development Bank of the Philippines (DBP) has extended P2.1 billion in loans for two hydropower projects in Luzon and Visayas to firm up energy supply in the two islands.
Proceeds of the P1.1 billion loan awarded to MRDC will be used to complete the construction of an eight megawatt (MW) hydropower facility in Bambang, Nueva Vizcaya. It will generate an additional 42 gigawatt hours (GWh) for the Luzon grid via the National Grid Corp. of the Philippines.

Meanwhile, the P1 billion loan taken by THEC will be deployed to raise a 16-MW hydropower plant in Taft, Eastern Samar. The facility, to be located in Tubig River, is estimated to supply 70 GWh to the Visayas grid that will boost energy supply in the region, particularly in Leyte and Samar.

Based on records, the DBP has issued a total of P41.57 billion in credit assistance to borrowers through the FUSED program.

Source: The Philippine Star, 23 January 2022
https://www.philstar.com/business/2022/01/23/2155703/dbp-lends-p21-billion-2-hydro-plants