Php 80.4 M loans approved by REFC Board
The Rural Electrification Financing Corporation (REFC) Board of Directors approved Php80.4 Million worth of loans applied by four (4) Electric Cooperatives (ECs) during its January 2018 regular board meeting. “As part of REFC’s commitment to the ECs’ progress, the Board approved the loans of four member-investors. It is our way of saying that we are starting this year 2018 with more loan approval to cater to our clientele ECs’ financial needs for their electrification related projects,” said Engr. Iglorio R. Hinayon, the REFC Board President.
The Misamis Oriental I Electric Cooperative, Inc. (MORESCO I) availed of a working capital loan worth Php15.2 Million and a commodity loan of Php3.9 Million. Iloilo I Electric Cooperative, Inc. (ILECO I) applied for a Php12.7 Million commodity loan. The Northern Negros Electric Cooperative, Inc. (NONECO) was granted both working capital and commodity loans in the amount of Php10.9 Million. And the Cantingas Mini-Hydro Corporation, a wholly owned subsidiary of ROMELCO, was recipient of a Php37.7 Million loan for its expansion project.