The Laguna Water Corporation, a subsidiary of Manila Water, has signed a PHP 500 million term loan with the Development Bank of the Philippines to fund its modernisation and expansion plans. Further, as per the agreement, Laguna Water has the option to increase the loan amount sought to PHP 1.33 billion. The company will use the loan proceeds to deliver 24-hour water supply to the unserved population within its concession area that comprises the cities of Santa Rosa, Binan, and Cabuyao.