MORESCO-1 proudly congratulates its Board of Directors President, Nonito M. Labis, DVM, for once again, being re-elected DIRECTOR of the Rural Electrification Financing Corporation (REFC).
The REFC, established in 2000 through a collaborative effort involving NEA, PHILRECA, NRECA, and various institutions including USAID and IFC, serves as an alternative financing source for Philippine Electric Cooperatives. Conceived amidst a restructured and reformed electric power industry under the EPIRA Law (R.A. 9136), the REFC’s core mission is to provide supplemental loans to its Member-ECs at competitive lending rates. This support enables ECs to offer reliable, high-quality service while leveraging their equity capital.
Recognizing the additional support needs of its member ECs, REFC expanded its services by establishing the wholly-owned subsidiary, the Rural Electrification Trading Corporation (RETC). RETC is strategically designed to enhance loan packages and provide technology-driven, cost-effective materials, equipment, consulting, and other essential services, with financing support from REFC.
Together, REFC and RETC are committed to becoming the preferred service providers for Philippine ECs, offering assured funding and tailored services. This collaboration not only supports the financial and operational needs of the investor-ECs but also fosters the development of expertise in management, technical, financial, and institutional areas within the Rural Electrification Sector.
(Source: REFC website)
