Ayala-led water utility, Manila Water Co., Inc. has borrowed USD100 million as partial funding for the construction of new water and sewerage treatment plants.
The fixed-rate term loan agreement was signed with the International Finance Corp. (IFC) with a tenor of 18 years. This is said to be Manila Water’s fourth loan facility with IFC since 2003.
The money will be allocated for the construction of water and sewerage treatment plants. Business World reported that Manila Water’s net income rose by 0.4% to PHP1.341 billion in the first quarter from PHP1.337 billion in the same three months last year.
