World Bank approves $275M for PH water

A loan scheduled to be greenlit by the World Bank in October is aiming to improve water supply and sanitation in three Philippine islands.

- BEN ARNOLD DE VERA

In a June 5 project information document, the Washington-based multilateral lender said its upcoming $275.38-million—or over P15-billion—financing for the Philippines Accelerated Water and Sanitation Project in Selected Areas (AWSPSA) will be up for board approval on Oct. 31.

The World Bank will finance the bulk of the six-year project, whose total operation cost is $293.96 million, or more than P16 billion.

According to World Bank documents, the Philippine government will shell out $14.16 million (over P780 million) to fill the project financing gap; private-sector equity will amount to $1.32 million; while an unguaranteed commercial debt of $3.08 million will also finance AWSPSA.