Landbank, WB sign $274M wastewater management project

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The Land Bank of the Philippines (Landbank) sealed a USD275 million loan agreement with the World Bank (WB) for the initial implementation of the Metro Manila Wastewater Management Project (MWMP).

The project aims to address wastewater collection and treatment practices in selected areas in Metro Manila and also improve Manila Bay’s water quality.

The loan amount will be divided equally between the country’s two biggest water concessionaires, Manila Water Co. Inc. and Maynilad Water Services, Inc., to support initial investments in wastewater collection and treatment, septage management in their respective concession areas.

Under the agreement, Landbank is the borrower, with the Department of Finance as the loan guarantor while Manila Water and Maynilad are the subsidiary borrowers and project implementers.

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