Lopez group raises funds for classrooms in Yolanda areas

The Lopez Group has raised P196 million to complete the construction of typhoon-resilient school rooms in areas hit by super Typhoon Yolanda and other recent disasters by September this year. The school rebuilding program covers the construction of 150 classrooms housed in 66 school buildings in 30 cities and municipalities in 11 provinces – Leyte, Eastern Samar, Western Samar, Sorsogon, Albay, Bohol, Bukidnon, Laguna, Iloilo, Capiz and Aklan.  The seed funding of P70 to 80 million for the first 2 phases came from EDC and later on from donor funds of ABS-CBN Lingkod Kapamilya Foundation Inc. – Sagip Kapamilya and other Lopez-led firms.  For Phase 3, the Lopez Group companies, led by subsidiaries of First Philippine Holdings Corp. (FPH), have pledged to shoulder the cost of constructing the new typhoon-resilient schools. These firms include First Gen Corp., and ThermaPrime Well Services Inc.  FPH is the holding company of First Gen, the country’s leading clean and renewable energy company. EDC, a subsidiary of First Gen, is the world’s largest geothermal company. Read more here.


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