Metrobank, China Bank aid Laguna

MANILA, Philippines - The Metropolitan Bank & Trust Co. (Metrobank) and China Banking Corp. (China Bank) has extended loans amounting to P1.2 billion for water improvement projects in Laguna.

The local government units of Laguna will form a partnership with Laguna Water Co., a subsidiary of the Ayala-led Manila Water Co. for the ambitious five-year program.

Laguna Governor Jeorge Estregan said the program would cover the areas of Biñan, Sta. Rosa and Cabuyao.

It will connect at least 400,000 households by 2014, while eight million liters per day or 43 percent of the water loss will be recovered after completion of the pipe replacement project.