The National Electrification Administration (NEA) in partnership with Northern Mindanao Electric Cooperatives Association (NORMECA), conducted Loans Evaluation to financial, technical and corporate planning executives of four NORMECA ECs namely Misamis Oriental 1 Rural Electric Service Cooperative, Inc. (MORESCO-1), Misamis Oriental 2 Rural Electric Service Cooperative, Inc. (MORESCO-2), Lanao del Norte Electric Cooperative, Inc. (LANECO) and Misamis Occidental-1 Electric Cooperative, Inc. (MOELCI-1) today March 28 to Thursday, March 30 at the Mallberry Business Suites, Cagayan de Oro City.
The purpose of the activity is to assess and determine the creditworthiness of the ECs and their ability to use the facility to generate sufficient cash flows to meet the costs of the loan and operating expenses of their proposals. This is also in cognizance of the electric cooperatives’ mandate to operate to ensure continued service delivery to the member-consumer-owners
The resource speakers and facilitators assigned and rotated to the groups from the NEA are Ms Rouchelle Jane M. Payuran, Acting Division Manager, NEA-AMD; Ms. Loreto Escandor, Supervising Account Management Specialist; Mr. Tiburcio Sangalang, Information Technology and Forecaster; and Mr. Abdurrashid Bin Siradj M. Abantas Accounts Management Specialist.
In the absence of NORMECA President Nonito M. Labis, Archibald G. Pacana, MORESCO-1’s Corporate Public Relations Officer, who served as the workshop secretariat and host, welcome the participants and the NEA facilitators from NEA. In his welcome remarks, Pacana gave emphasis on the importance of preparing the Electric Cooperatives’ institutional, financial, and technical work plans and projects.
Output from the loan evaluation activity shall be submitted to the NEA, for review, and approval. (MORESCO-1 ISD and ElektriKOOPNews).