Rural electric cooperatives and utilities spread across 15 states of the US will be beneficiaries of the said funding and loan guarantee scheme under USDA’s Rural Utilities Service program.

The funding will help electric utilities upgrade, expand, maintain and replace rural America’s electric infrastructure.

Commenting on the funding USDA Secretary Tom Vilsack said that the funding will help the rural areas maintain and upgrade electric systems and have an up-to-date infrastructure in place.

USDA also announced $10m in funding for the implementation smart grid technologies in rural areas.

The funding will help utilities make electric grid more efficient while making energy bills for the consumers more economical.