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Press Releases

26

October 2007

MANILA WATER AWARDED IFC CLIENT LEADERSHIP AWARD FOR ITS CONTRIBUTION TO SUSTAINABLE DEVELOPMENT

Manila Water recently received the International Finance Corporation’s Client Leadership Award in recognition of the company’s comprehensive approach in promoting sustainable development in the East Zone of Metro Manila and in the water and wastewater industry. Manila Water is the first Philippine company to receive this global award which is given annually. The awardee is selected after undergoing a rigorous selection process among IFC’s clients globally.

IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s Client Leadership Award is a significant award as it recognizes highly successful corporate clients that significantly help IFC’s sustainability mission. Manila Water was given the award as the Company demonstrated strong management commitment to environmental and social sustainability and corporate governance while achieving commercial success.

“IFC has been a valuable partner in helping us prove that business objectives and sustainability initiatives are perfectly aligned, which is the core of our business strategy. We are honored to receive this award and proud of our longstanding partnership with IFC. We hope to continue this valuable relationship with IFC as we continue to grow our business,” said Manila Water president Antonino Aquino.

At the award ceremony in Washington, DC, IFC executive vice president and CEO Lars Thunell, said, “Manila Water’s innovative programs to bring water to poor people and its success in supplying the city’s eastern zone are just some of the ways that the company embodies IFC’s ideals in social sustainability and corporate governance.”