Tuesday 18th February 2020

REC commits financial assistance for ensuring development of underprivileged children

Feb 10th, 2020 7:18 pm | By | Category: LATEST NEWS

Rec
(THE NEWSMAN OF INDIA.COM)
REC Ltd. (Formerly Rural Electrification Corporation Limited), A Govt. of India Navratna Enterprise, committed financial assistance of Rs. 95.62 lakhs through its CSR arm, REC Foundation to Parivaar Education Society for the construction of boys hostel (second floor) for tribal children in Sandalpur Village, Dewas district, Madya Pradesh. The financial assistance will also be used for providing support for studies, food and other basic necessities to 150 residential girls at Parivaar Bengal Residential Institution in Barkalikapur village, 24 Parganas district, West Bengal. The main objective of the project is to set up and run safe residential education institutions for children from impoverished and vulnerable backgrounds while ensuring their overall development.

The Memorandum of Agreement (MoA) in this regard was executed between REC Foundation and Parivaar Education Society in New Delhi on 5th February, 2020. S N Srinivas, CEO, REC Foundation, on behalf of REC Foundation and Shri Vinayak Lohani, Founder, Parivaar Education Society on behalf of Parivaar Education Society signed the Memorandum of Agreement in the presence of S.K. Gupta, Director (Technical) and Ajoy Choudhury, ED (Finance and CSR), REC Ltd.

About the Company:
REC Limited (formerly Rural Electrification Corporation Limited) is a Navratna NBFC and Infrastructure Finance Company (IFC) focusing on Power Sector Financing and Development across India. It provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; different type of projects includes Generation, Transmission, Distribution Projects and Renewable Energy projects.

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