LOAN AGREEMENT. LandBank President and CEO Lynette Ortiz (3rd from right) and Prime Infra President and CEO Guillaume Lucci (3rd from left) ink on Wednesday (Sept. 4, 2024) a PHP5-billion loan agreement to partially fund Prime Infra’s projects across its core sectors. Joining them are Prime Infra Chief Finance Officer Sandy Alipio (2nd from left) and Treasury Head Emma Villa del Rey (leftmost), alongside LandBank Executive Vice President Ma. Celeste Burgos (2nd from right), and Senior Vice President Lucila Tesoreso (rightmost) as witnesses during the signing at the Three E-Com Center in Pasay City. (Photo from LandBank)
MANILA – State-run Land Bank of the Philippines has approved a P5-billion loan to Prime Infrastructure Capital, Inc. to bolster its sustainability projects, marking the first partnership between the two institutions.
In a statement on Thursday, LandBank said the PHP5-billion loan facility will be used to partially finance working capital requirements of Prime Infra’s pipeline projects in the water, sustainable energy, and waste management and sustainable fuels.
The loan agreement was signed by LandBank President and CEO Lynette Ortiz and Prime Infra President and CEO Guillaume Lucci on Sept. 4, 2024 at the Three E-Com Center in Pasay City.
“We are excited to embark on this new partnership with a recognized leader in building critical and socially relevant infrastructure. Our common goal of enhancing lives and fostering resilient economies makes this loan facility a truly mutually beneficial endeavor,” said Ortiz.
The financial support will allow Prime Infra to accelerate its initiatives in critical infrastructure sectors, thereby contributing to the country’s economic growth and environmental resilience.
“This partnership with LANDBANK is a significant step forward in our commitment to developing sustainable and resilient infrastructure. It will enable Prime Infra to further accelerate the progress of our projects in sustainable energy, water supply, and waste management,” said Prime Infra President and CEO Lucci. (PNA)
