02/08/2007 (Agence Europe) - The European Investment Bank (EIB) is lending €60 million to Manila Water, the public water management company for the east zone of Manila, the capital of the Philippines. The loan will help expand and improve water source and water distribution (extraction, pumping and distribution). In a press release, the EIB notes that the project will have a positive impact both socially and in terms of the environment. It will provide access to safe water to more than half a million people who currently buy bottled water or get their water from private wells and vendors, and should reduce the health risks stemming from waterborne diseases. The EIB points out that it is also backing a number of other Manila Water investment projects for the 2007-2010 period by making available long-term (10 year) loans. (ol)