MORESCO-1 extends its heartfelt congratulations to its Board President, Dr. Nonito M. Labis, DVM, on his recent election as a Member of the Board of Directors of the Rural Electrification Financing Corporation (REFC).
Established in 2000 through a Memorandum of Agreement between the National Electrification Administration (NEA), PHILRECA, and NRECA—with support from USAID, IFC, and pioneering EC leaders—REFC was conceived as an alternative financing institution for Philippine ECs under the restructured power industry defined by the EPIRA Law (R.A. 9136).
REFC’s primary mission is to offer supplemental financing to its Member-ECs at the most affordable lending rates, enabling them to deliver adequate, reliable, and high-quality service. By leveraging their equity, ECs gain access to loan facilities that enhance operational capabilities and service delivery for their consumer-members.
Recognizing that ECs also require broader institutional support beyond financing, REFC established its wholly owned subsidiary, the Rural Electrification Trading Corporation (RETC). RETC complements REFC’s mission by offering member ECs access to technology-driven and cost-effective materials, equipment, consulting services, and expanded loan packages—strengthening the financial and technical backbone of the sector.
Through REFC and RETC’s integrated efforts, Philippine ECs are assured of a dependable funding source and a responsive service partner committed to their growth and sustainability. The work of these organizations continues to shape a generation of experts in management, finance, technical operations, and institutional development within the Rural Electrification Sector.