SOCOTECO II is REFC’s 102nd Investor, ISELCO I invests anew
The Southern Cotabato II Electric Cooperative, Inc. (SOCOTECO II) becomes the 102nd member-investor of the Rural Electrification Financing Corporation (REFC), the financial arm of the Philippine Electric Cooperatives (ECs), with an initial investment of Php5 Million. In its Board Resolution (BR) No. 73, Series of 2017, the SOCOTECO II Board cited the fact that most ECs countrywide are already member-investors of REFC, thereby proving that becoming part of the REFC family is beneficial to them. The BR also noted the advisory issued by the Energy Regulatory Commission (ERC) informing ECs that they can invest into REFC using their coop’s Reinvestment Fund.
On the other hand, Isabela I Electric Cooperative, Inc. (ISELCO) pours in an additional investment of Php10 Million to REFC’s coffers, manifested by ISELCO I BR No. 8, Series of 2018, mentioning that the coop gained favorable privileges being a member-investor, like the low-cost financing service leading to the realization of some of its big tickets projects. Its reinvestment of an additional Php10 Million aims to strengthen the partnership of the coop with REFC. “The fresh source of funds will be a big help for REFC to be able to fulfill its mission of providing an alternative source of fund for its member-ECs.