The Asian Development Bank (ADB) has made a $145 million (in Philippine pesos equivalent) investment in Maynilad Water Services, Inc. to enhance water security and improve wastewater services in Metro Manila.
ADB is one of two lead cornerstone investors in Maynilad’s initial public offering (IPO) on the Philippine Stock Exchange. The investment will support the development of a resilient water system in the Philippine national capital region by expanding and modernizing water and wastewater infrastructure.
Changing rainfall patterns, economic development, rapid urbanization, and population growth have contributed to intermittent water supply and inadequate access to clean water in the Philippines, particularly in low-income and densely populated areas of Metro Manila. ADB’s investment will help Maynilad expand water supply coverage by increasing water treatment capacity, reducing water losses, and upgrading water conveyance networks, while improving sewerage and sanitation service coverage by installing new sewer lines, constructing lift and pump stations and interceptor systems, and upgrading facilities. Technology upgrades will also help reduce costs and enhance efficiency.
The Government of the Philippines encourages private sector participation in upgrading and expanding water supply and sanitation infrastructure nationwide under the Philippine Water Supply and Sanitation Master Plan
“This investment highlights our commitment to helping provide clean, accessible, and reliable water, and safe sanitation services, to millions of Filipino households, commercial, and institutional users,” said ADB Philippines Country Director Andrew Jeffries. “The expansion and modernization of water and wastewater infrastructure will contribute to improved climate resilience, public health, economic productivity, and social and economic development.”
Maynilad is one of two water utility concessionaires awarded by the government-run Metropolitan Waterworks and Sewerage System to operate waterworks and sewerage services in Metro Manila. The company services the “West Zone” of Metro Manila, which spans 11 cities in Metro Manila, 3 of which Maynilad partially covers, as well as 3 cities and 3 municipalities in Cavite Province, with a combined estimated population of 10.5 million.
“Maynilad is appreciative of the strong support shown by ADB for its IPO on the Philippine Stock Exchange, as the listing of the business will help in expanding and upgrading our water and wastewater services,” said Maynilad’s President and CEO, Ramoncito S. Fernandez.
The Government of the Philippines encourages private sector participation in upgrading and expanding water supply and sanitation infrastructure nationwide under the Philippine Water Supply and Sanitation Master Plan, which sets the country’s goals to achieve universal access to safe, sufficient, affordable, and sustainable water supply, hygiene, and sanitation by 2030.
ADB’s investment in Maynilad consists of $100 million (in Philippine pesos equivalent) from the bank’s ordinary capital resources and $45 million (in Philippine pesos equivalent) from the Leading Asia’s Private Sector Infrastructure Fund 2 (LEAP 2). LEAP 2 is an ADB-managed fund with a $1.5 billion commitment from the Japan International Cooperation Agency. Established in 2023, it focuses on sustainable private sector infrastructure projects that reduce carbon emissions, improve energy efficiency, and provide affordable health care, education, and communication services to ADB’s developing member countries.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.
