State-owned Development Bank of the Philippines (DBP) has granted a P50-million loan facility to Sipocot Water District (SIPWADI) for water source development and the rehabilitation of existing water lines and water sources under its Water for Every Resident (WATER) program. This is SIPWADI’s first loan transaction with a financial institution since it began operations 43 years ago as a public utility serving eight barangays with a population of almost 30,000. Once completed, the water district’s current operations would significantly improve while allowing the agency to expand service delivery to two more barangays in Sipocot, a 1st class municipality in the province of Camarines Sur.
Shown in photo during the signing of the loan agreement are (from left) SIPWADI Senior Water Utilities Manager Eleanor Reyes, DBP Account Officer Leo Emmanuel Gagalac, SIPWADI General Manager Lourdes Navarroza, and DBP Senior Assistant Vice President Ariel Peña.