US$275-million wastewater loan signed

October 31, 2012

Land Bank of the Philippines (LandBank), Manila Water (MWCI) and Maynilad Water Services, Inc. (Maynilad) recently signed a subsidiary loan agreement to facilitate the implementation of the Metro Manila Wastewater Management Project (MWMP).
 
In the agreement, the LandBank’s $275-million loan from the World Bank for the MWMP will be divided equally between the two water concessionaires—MWCI and Maynilad—to support investments in wastewater collection and treatment, and septage management.
 
The agreement was signed by (from left) MWCI CFO Luis Juan Oreta, MWCI President Gerardo Ablaza Jr., LandBank EVP – ADLS Cecilia Borromeo, LandBank President and CEO Gilda Pico, Maynilad President and CEO Victorico Vargas, and Maynilad CFO Randolph Estrellado.