Arkansas Electric Co-op Corporations receives $75 million loan for projects

Jun 23, 2020
In The News

Arkansas Electric Co-op Corporations receives $75 million loan for projects

Written by Region 8 Newsdesk
Published by Region 8

LITTLE ROCK, Ark. (KAIT) – Arkansas Electric Co-op Corporations received a $75 million loan through the Electric Infrastructure Loan and Loan Guarantee Program.

According to a press release, the U.S. Department of Agriculture (USDA) provided the loan.

The money will be used to finance the installation of 2,073 miles of fiber optic cable to provide a backbone communications network for Smart Grid purposes, including improving reliability and grid communication.

The loan term is expected to last 23 years.

Members of Arkansas’ Congressional Delegation, including U.S. Senators Tom Cotton and John Boozman, U.S. Representatives Rick Crawford, French Hill, Steve Womack, and Bruce Westerman, released a joint statement praising the loan.

“Rural broadband connectivity has always been an issue in Arkansas. As digital communications become more important to daily life, every Arkansan should at least have the option to connect to fast, reliable internet. These funds will be instrumental to aiding electric companies in improving their broadband infrastructure, and we thank USDA Secretary Perdue for his continued support of rural America,” members said.

Recent Posts


Crawford Statement on Passage of Continuing Resolution

FOR IMMEDIATE RELEASE Contact: Sara Robertson (Sara.Robertson2@mail.house.gov) Crawford Statement on Passage of Continuing Resolution 1/18/2024 Washington — At the precipice of a partial government shutdown, the House and Senate approved a Continuing Resolution (CR) to keep the government funded at last year’s spending levels until early March while negotiations for full year funding continue. Representative Rick Crawford (AR-01) […]



Dec 18, 2023
Economy

Crawford Statement on Acquisition of U.S. Steel by Nippon Steel Corporation

FOR IMMEDIATE RELEASE Contact: Sara Robertson (Sara.Robertson2@mail.house.gov) Crawford Statement on Acquisition of U.S. Steel by Nippon Steel Corporation 12/18/2023 Washington — Today, Representative Rick Crawford (AR-01), Chairman of the Congressional Steel Caucus, released the following statement in response to the acquisition of U.S. Steel by Nippon Steel Corporation. “Today’s announcement regarding the acquisition of U.S. Steel by […]



Dec 14, 2023
Press

Rep. Crawford Statement on Passage of FY24 NDAA

FOR IMMEDIATE RELEASEContact: Sara Robertson (Sara.Robertson2@mail.house.gov) Rep. Crawford Statement on Passage of FY 24 NDAA 12/14/2023 Washington — Today, Representative Rick Crawford (AR-01) voted to support H.R. 2670, National Defense Authorization Act (NDAA) for Fiscal Year 2024. “It’s vital that we pass this piece of legislation every year to ensure that our troops are properly equipped and trained […]