Ag Department to issue $1.2 billion in loans to rural electric co-ops

U.S. Department of Agriculture Secretary Tom Vilsack announced that 37 rural utilities and cooperatives in 20 states have been selected to receive guaranteed loans that will benefit more than 60,000 rural electric cooperative consumers by financing the construction and repair of almost 7,000 miles of distribution and transmissions lines. The $1.2 billion in funding is being awarded through USDA Rural Development’s Electric Program.