A Singapore-based subsidiary of Manila Water Co., Inc. has signed a Memorandum of Understanding with the International Finance Corp. (IFC) for the joint implementation of water projects in Southeast Asia and the Asia Pacific.
Manila Water told the local exchange on Wednesday that Manila Water Asia Pacific Pte. Ltd. and IFC will jointly identify, evaluate and develop, and/or jointly implement projects for the operation, maintenance, and management of water and used water facilities, or concession contracts for, water and used water services primarily in the regions of Southeast Asia and in Asia-Pacific.
A member of the World Bank Group, IFC is an international organization which promotes sustainable private sector investment in developing countries, seeking to help alleviate poverty and improve people’s lives.
Manila Water, incorporated in 1997, is in the business of providing water, sewerage and sanitation, distribution services, pipe works and management services to residential, commercial and industrial customers.