The Manila Electric Company (Meralco), the largest electric power distributor in the Philippines, has signed a $100 million term loan facility with the International Finance Corporation (IFC) to partially fund the construction of more water and sewerage treatment plants. The fixed-rate term loan has a tenor of 18 years, the longest tenor IFC has provided to the water sector in the Philippines. This is Meralco fourth loan facility with IFC since 2003.
