With the numbers growing steadily, the Rural Electrification Financing Corporation (REFC) welcomes a new member Electric Cooperative (EC) – Investor, the Nueva Ecija I Electric Cooperative, Inc. (NEECO I). The coop made an initial investment of 1,000 shares or Php 1,006,320 Million through a Board Resolution (BR No. 06-01-2017) passed by the NEECO I’s Board to the REFC.
“NEECO I is the 95th EC-Investor,” said REFC President Gabriel Tordesillas. “This investment also makes almost all the Region 3 ECs as members of the REFC. Of the 14 coops in the region, 13 are now our member investors. Our goal is to have all the 14 Region 3 ECs as members. And we are looking forward to welcoming the 120 ECs nationwide to become member-investors of REFC in the near future. As key players in the rural electrification industry, the coops need to stand together to stay relevant in this business,” said President Tordesillas.
The REFC Board’s thrust is to align its efforts to the current NEA leadership who is keen on implementing the Duterte Administration’s economic agenda. And countryside development is one of the many priority areas, to which the ECs are catalysts of growth.