Security Bank Signs P200M Term Loan with ZCWD & LGUGC to Upgrade Water System

Security Bank Corporation (SBC) signs a Php 200 Million term loan agreement with Zamboanga City Water District (ZCWD) backed by LGU Guarantee Corporation (LGUGC) at the SBC corporate headquarters in Makati held recently.

The term loan will be used to implement various water system improvement programs of ZCWD and enhance the efficiency of the water supply in Zamboanga City. It will also augment the water supply for the elevated areas of the east and west coast where majority of subdivisions are currently being developed. ZCWD has the exclusive right to distribute water for the entire geographical boundaries of Zamboanga City. The project also aims to improve its revenue collection efficiency.

Photo shows senior executives from both parties sealing the partnership agreement with a handshake during the recent loan signing held at the Security Bank corporate headquarters in Makati City. From left are: Patricia May T. Siy, SBC EVP