Loans for Philippine tap water

The move is part of efforts to expand infrastructure exports.

The lenders are banks and the Japan International Cooperation Agency, or JICA. They signed a contract in Tokyo on Wednesday with the private-sector firm that supplies Manila’s tap water.

JICA is offering about 150 million dollars. The Bank of Tokyo-Mitsubishi UFJ and 2 other lenders are providing 73 million dollars.

JICA’s loan offer is its first with major Japanese banks.

Manila’s demand for tap water has increased along with a rise in the city’s population. But old, leaky plumbing makes supply unreliable.

The Filipino company plans to use the funds to upgrade its pipes using Japanese construction methods and to expand water treatment facilities. The loans are also to be used for installing Japanese-made water meters.

Source and image: NHK