SEC. 9. Appropriations.-The sum of Seven hundred fifty million pesos (P750,000,000.00) for the initial implementation of this Act shall be taken from the National Disaster Risk Reduction and Management Fund. The Seven hundred fifty million pesos (750,000,000.00) comprising the initial amount of the ECERF shall be immediately released to the NEA Quick Response Fund for proper release to qualified ECs subject to Section 10 of this Act. Thereafter, such amounts necessary for sustainable implementation of the ECERF shall be included in the annual General Appropriations Act.
Allocation of the Electric Cooperatives Emergency and Resiliency Fund (ECERF).
SEC. 10. Allocation of the Electric Cooperatives Emergency and Resiliency Fund (ECERF).- The ECERF shall be allocated exclusively for the restoration or rehabilitation of the ECs damaged infrastructures after a fortuitous event or force majeure: Provided, That the amount shall not be used for the conversion of a calamity loan into a grant.
In case of a deficiency of the fund, the NEA shall seek for the allocation of a supplementary budget from the National Disaster Risk Reduction and Management Fund, subject to the approval by the President of the Republic of the Philippines.
Donations.
SEC. 11. Donations.- Donations in the form of funds, materials, or equipment, whether local or international intended for the express puprose of restoring or rehabilitating the ECs' infrastructure damaged by a fortuitous event or force majeure, shall be received directly by the NEA, subject to existing auditing rules and regulations and shall be exempt from all duties, fees, taxes, and other charges.
