Conceived as an alternative financing source and service provider for the Philippine Electric Cooperatives (ECs) in the midst of a restructured and reformed electric power industry under the EPIRA Law (R.A. 9136), the Rural Electrification Financing Corporation (REFC) was created in year 2000 through a Memorandum of Agreement between NEA, PHILRECA and NRECA and the collaborative effort of pioneering EC leaders with various local and foreign institutions such as USAID & IFC. The Securities and Exchange Commission (SEC) granted REFC a Certificate of Authority and Certificate of Incorporation in August 2001.

Since its inception in 2000, REFC has steadily grown from its initial authorized capital of Php200 Million with 30 ECinvestors to its recently approved authorized capital of Php 1.5 Billion with 105 EC investors and still growing. REFC’s core function is to provide supplemental loans to its Member- ECs at the lowest possible lending rate in order for them to achieve their goals of providing service that is adequate, dependable and of high quality, it also allows them to leverage their equity capital to loans. In return, it can generate additional revenue and provide better service to its member consumers.

In the course of its business, it was realized that the member ECs need other related support services as well to further their operation in addition to their financing needs. Responding to their clamor, the REFC established a wholly-owned subsidiary, the Rural Electrification Trading Corporation (RETC) envisioned with a strategic business objective of expanding loan packages to its members-ECs, which will further be achieved through the provision of technologydriven and cost effective materials, equipment, consulting and other services with financing support from REFC. The Trading subsidiary facilitates the acquisition of specialized commodities and provision of high quality products and technical services that the ECs need, ensuring prices that are competitive in the market.

By providing the Philippine ECs with assured source of funds and aiming to become their preferred service provider, REFC and RETC commit together to help ECs’ attain progress. Both companies continue to be sensitive to the financial and related needs of their investor-ECs, and dealing with the projects of the ECs resulted into development of Individuals from among the Rural Electrification Sector with priceless expertise whether it be management, technical, financial and institutional concerns.

2019-2020 Board of Directors

Ludovico D. LimPresidentGeneral Manager / ANTECO
Jose Raul A. SanielVice PresidentGeneral Manager / ZAMSURECO I
Lorenzo L. Trinidad Jr.Vice President for Corporate AffairsPresident / CAGELCO I
Julius Cesar G. PeraltaCorporate SecretaryPresident / PANELCO III
Loliano E. AllasTreasurerGeneral Manager / PELCO I
Jonas DiscayaDirectorGeneral Manager / NOCECO
Virgilio L. MontanoDirectorGeneral Manager / ISELCO I
Egdon A. SabioDirectorGeneral Manager / ISECO
Jose Michael Edwin S. AmancioDirectorGeneral Manager / ESAMELCO
Nolie C. NamocatcatDirectorPresident / ANECO
Cesa G. GironellaIndependent Director
Francis V. GustiloIndependent Director
Working Capital Loan

To meet Electric Cooperatives' additional working capital requirement and short-term fund deficit.

Loan Refinancing

To free the Electric Cooperatives from existing loans with high and unfavorable interest rates, thus providing more financial flexibility.

Commodity / Equipment Loan

Provision of quality materials and equipment through RETC, the wholly owned trading subsidiary of REFC.

Vehicle Fleet Program

Provision of service vehicles and linemen utility trucks with no down payment and mortgage fees.

Term Loan

Fund infrastructure improvement projects such as system loss reduction, kWh replacement and clustering, circuit protection and sectionalizing, major capex such as new construction / upgrading of substation, 69kV sub-transmirrion lines and distribution line upgrading/ rehabilitation.


Allows Electric Cooperatives to make smaller monthly payments over a multi-year period, instead of buying the equipment under CAPEX