Financing clean water
We aim to ensure that all our business operations support our community commitment. Financing ethical and environmentally friendly deals is part of that strategy.
MANILA WATER DEAL
End 2008, ING signed a EUR20m guarantee facility for a European Investment Bank (“EIB”) loan facility provided for Manila Water Co.
The loan is used to fund the expansion and improvement of water supply sources and distribution which have significant positive environmental and social implications. Efficient management of existing water resources and networks will help further reduce losses of scarce potable water resources (or non revenue water) which Manila Water has managed to reduce from 63% upon its takeover of the concession in 1997 to 21% as of March 2009. By managing losses, Manila Water is able to supply the potable water to other communities instead of having it lost through leaks. The expanded service coverage will extend safe water services to up to 350,000 people in underprivileged communities, thereby reducing health risks from water-borne diseases and enhancing the overall quality of life.
Manila Water is a Philippine publicly listed company that operates a water concession in the eastern side of Metro Manila which provides water services to more than 5.6 million customers.
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