IFC And Maynilad Partner To Expand Clean Water And Wastewater Services In Metro Manila

To improve access to water and wastewater services in the West Zone of Metro Manila and increase access to capital markets for water and wastewater utilities, International Finance Corporation (IFC) has invested $100M as a cornerstone investor in the initial public offering (IPO) of Maynilad Water Services, Inc. (Maynilad), the operator of the largest water concession in the Philippines and Southeast Asia in terms of active connections and population served within a single concession area^[1].

Proceeds from the IPO will be used to fund Maynilad’s capital expenditures requirement and for general corporate purposes. A portion of proceeds will be directed towards expanding wastewater service coverage, which is expected to reach 100 percent by the end of 2026. Maynilad’s wastewater service coverage expansion is expected to improve public health and sanitation. It will also provide potable water supply to people in the West Zone of Metro Manila, to help reduce waterborne diseases and enhance the overall well-being of the communities Maynilad serves.

Shares in Maynilad began trading on the Philippine Stock Exchange today.

Access to capital markets, especially equity, can help water utilities in emerging markets obtain the funding to expand services, improve efficiency, and reduce reliance on public finances to meet growing demands from the population and expand access to underserved communities.

“This marks the beginning of a new chapter for Maynilad,” said Ramoncito S. Fernandez, President and CEO of Maynilad. “Apart from fulfilling one of the terms of our legislative franchise, this IPO enables us to pursue our long-term expansion plans for our water and wastewater businesses. The investments we have received signal confidence in our vision and plans to strengthen our positioning as a pure-play sustainability company, one that aims to continue bringing positive impact and value to our West Zone concession, and beyond.”

In addition to the financing, Maynilad will join IFC’s Utilities for Climate (“U4C”) network, providing the company with access to global best practices and peer learning to accelerate innovation in climate-smart water service delivery. IFC will support Maynilad as it aims to strengthen its environmental and social practices through capacity building aligned with IFC’s Performance Standards and as it looks to enhance stakeholder engagement to foster more inclusive stakeholder practices. IFC will also work with Maynilad on a framework so that the company can promote greater participation of women in its workforce and position itself as an employer of choice for women.

“IFC is pleased to join Maynilad’s IPO as a cornerstone investor, supporting the company’s goal of reaching full wastewater service coverage in the years ahead,” said Amena Arif, Country Manager for the Philippines at IFC. “This investment reflects our focus on enhancing services for the Filipino population, while also highlighting IFC’s ongoing efforts to bolster capital market activity in the country.”

About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7B to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.

About Maynilad
Maynilad is a pure-play and integrated primary provider of sustainable water and wastewater services for the “West Zone”, which spans across 11 cities in Metro Manila, three of which it partially covers, as well as three cities and three municipalities in the Cavite Province in the Philippines. For more information, visit https://www.mayniladwater.com.ph.

^[1] Source: GlobalData