Laguna Water, a subsidiary of East Zone water concessionaire Manila Water Co. Inc., recently signed a P1.33-billion omnibus loan and security agreement with state-owned Development Bank of the Philippines (DBP) to bankroll the utility’s capital expenditure projects.
Melvin John Tan, Laguna Water general manager and chief operating officer, said that the loan facility under DBP’s Philippine Water Revolving Fund (PWRF) would be disbursed in two tranches—the first tranche covering P500 million will be released this year while the second and final tranche covering P833 million will be released by 2014.
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