; (O) silicon steel; (P) any insulating material; and (Q) any other electrical equipment commonly used for the transmission or distribution of electric energy by public electric utilities. (4) Secretary The term Secretary means the Secretary of Energy. (b) Loan program (1) Establishment (A) In general Not later than 180 days after the date of enactment of this Act, and subject to the availability of appropriated funds, the Secretary shall establish and carry out a program to provide a total of not more than $8,000,000,000 in loans to eligible individuals and entities (as determined by the Secretary) for the costs of activities relating to eligible projects. (B) Financing method (i) In general Except as provided in clause (ii), a loan under this subsection shall be provided through the Federal Financing Bank, with the full faith and credit of the United States Government on the principal and interest. (ii) Cooperation with other institutions A loan under this subsection may be provided in cooperation with 1 or more banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. (C) Credit subsidy The full credit subsidy for each loan provided under this subsection shall be paid by the Secretary using appropriated funds. (2) Application An individual or entity desiring a loan under this subsection shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary may require, including a written assurance that— (A) all laborers and mechanics employed by contractors or subcontractors during any construction, alteration, or repair that is financed, in whole or in part, by a loan provided under this subsection shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality, as determined by the Secretary of Labor in accordance with sections 3141 through 3144, 3146, and 3147 of title 40, United States Code