FIBECO gets Php 143 Million loan, consumers can pay thru ATM

BUSINESS IN BUKIDNON | BUKIDNON NEWS | FIRST BUKIDNON ELECTRIC COOPERATIVE – Let’s see if First Bukidnon Electric Cooperative Inc. or FIBECO will finally have better services and equipment after this!

Reports say that Allied Banking Corporation has extended a P143-million long-term loan to FIBECO. The loan is said to be spent in an effort “to enhance power distribution facilities in Southern Bukidnon.”

So we’re guessing lesser or even no brownouts real soon? (Or is that wishful thinking?)

Allied Bank said the 10-year multi million loan would be used by FIBECO “to reduce system loss, increase substation capacity and improve overall service quality, reliability and efficiency.”

FIBECO serves at least 12 franchise areas in Southern Bukidnon.

Under the loan agreement between Allied Bank and FIBECO, consumers or customers of FIBECO will also be given a new option on how they can pay their electric bills.

Under the loan agreement, FIBECO customers will soon be able to pay their electric bills through the ATMs of Allied Bank. This will be made possible through the Allied Bank cash card.


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