Photo shows the signing of the loan agreement between DBP and the Legazpi City Water District. Seated (from left) are: LCWD technical division manager Barbie Vonetta I. Borromeo, LCWD general manager Ma. Lourdes B. Bien, LCWD board of directors chairman Ranulfo S. Imperial, DBP-Regional Marketing Center Bicol head Ariel B. Pena, and DBP Legazpi branch head Francisco M. Sayson. At the back are DBP business development officer Esther Rachel B. Barcelona; LCWD internal control officer Rochelle L. Nodalo, LCWD board secretary Amelia R. Sayson; LCWD director Elsie S. Inocando; DBP lawyer Eliseo S. Segui; and LCWD director Cicero T. Cano
The Development Bank of the Philippines (DBP) recently extended a P95.8-million term loan facility to the Legazpi City Water District (LCWD) to support the latter’s expansion project aimed at improving its services to residents of the city.
The expansion project will involve the installation of pipelines that will address the problem of low water flow in elevated areas, ensure continued water supply, and improve health and sanitation in Legazpi City especially in remote areas.
The DBP financing is also seen to benefit more than 5,558 unserved and underserved households. LCWD also aims to increase its number of concessionaires to 25,387 in 2020 and to more than 30,000 in 2029 with the help of the DBP assistance.
LCWD covers the entire city of Legazpi, with a total population of 182,201 as of 2010 census. It presently serves 53 out of 70 barangays, or equivalent to 113,727 out of the 188,836 serviceable population.
DBP has already assisted more than 10 of the 37 water districts in Bicol, with additional financing for the other water districts in the pipeline next year.