By mobilizing private capital and collaborating with development partners, IFC is transforming lives and enhancing water security in developing countries.
IFC is at the forefront of addressing global water challenges by leveraging private sector participation. Our investments and initiatives are driving sustainable development and fostering innovations in emerging markets that improve access to clean water resources and support the health, productivity, and resilience of the world’s ocean and waterways.
Examples of IFC’s work
Explore IFC's impactful projects, success stories, and key publications that highlight our commitment to enhancing water security in developing countries.
Water and Sanitation
Maynilad (2025): IFC invested $100m in equity in the $587m IPO of Maynilad Water Services, Inc., the operator of the largest water concession in the Philippines and Southeast Asia in terms of active connections and population served within a single concession area. Proceeds from the IPO will be used to fund Maynilad’s $2bn capital expenditures program and to expand wastewater service coverage, which is expected to reach 100 percent by the end of 2026 and improve public health and sanitation.
GVMC (2025): IFC committed INR 4.98 billion (~ $58mn) as a senior loan to the Greater Visakhapatnam Municipal Corporation (GVMC). The investment will increase access to sanitation services through the expansion of the wastewater network and the development of a wastewater treatment plant with associated infrastructure in the Madhurawada region. The new comprehensive system will provide modern, reliable sanitation services that will improve the quality of life for residents, reduce health risks, and address pollution caused by untreated wastewater—a challenge in fast-expanding urban areas.
East Water (2025): In August 2025, IFC along with other investors subscribed to the 620-million-Thai-baht (~US$ 20m) bond issued by East Water, a pioneer in developing and managing major water pipelines in the country and the largest private sector company supplying water in the Eastern Economic Corridor region. East Water is the leading water supplier in Thailand's Eastern Economic Corridor (EEC) region, an industrial hub hosting 27+ industrial estates in industrial and digital sectors with an aim to create 200,000 jobs and accommodate 350,000 people by 2032.
OCP Green Water (2024): To provide sustainable water for fertilizer production, farmers, and households in Morocco, IFC committed a €100 million loan (about US$108 million) to OCP Group, the world leader in plant nutrition solutions and phosphate-based fertilizers. The loan will support the construction of a 219-kilometer water pipeline and pumping station to transport desalinated water from OCP's existing and planned desalination plants in Jorf Lasfar on the Atlantic Ocean to the company's production operations in Khouribga in central Morocco.
City of Cape Town (2024): IFC's $149 million (in local currency) senior loan is complemented by a mobilization of $192 million for a total long-term financing of $341 million to the City of Cape Town. This financing will support infrastructure upgrades and replacements, including to electrical and transport infrastructure, and the expansion of water, sanitation and wastewater management infrastructure prioritized under the city's 10-year infrastructure investment plan.
SABESP (2022, 2023, 2024): IFC committed three loans to SABESP, the largest water and sanitation service provider in Brazil and among the largest worldwide based on number of customers served. The proceeds will be used for capital expenditures related to the clean-up of the Pinheiros River, the improvement and universalization of sanitation services, and the optimization of water supply operations in São Paulo state.
Georgia Global Utilities (GGU) (2024): IFC acted as an anchor investor to a $300 million green bond issued by GGU, Georgia's largest privately-owned water supply and wastewater utility company. The project is expected to enhance water services for GGU’s 1.3 million customers, or approximately 35 percent of Georgia's population, in the capital of Tbilisi and nearby cities of Rustavi and Mtskheta.
To learn more about IFC’s work in water and sanitation, see here.
Blue Finance
T. Rowe Price Emerging Market Global Blue Bond Strategy: In 2023, IFC and T. Rowe Price launched a pioneering global blue bond strategy to increase access to finance for blue projects in emerging markets and help improve market standards for the nascent blue bond market. The strategy is expected to mobilize international capital from eligible investors to support blue-labeled investments in emerging markets globally through blue bonds issued by financial institutions and real sector companies.
SANASA (2023, 2024): IFC committed a blue loan of 260 million Brazilian reals (approximately $52 million) and a B -loan of $50 million to SANASA, a water utility company operating in Campinas, a city of 1.3 million residents in the Brazilian state of São Paulo. The loan will help SANASA expand its water supply systems and sewage treatment capacity. Under IFC's Utilities for Climate (U4C) initiative, the partnership also includes advisory services to support the company's 2023-2025 investment plan, blue loan certification, diagnostic of the IT system, and operational resiliency.
SeABank (2024): To catalyze a viable blue finance market while fostering green bonds and supporting smaller businesses in Viet Nam, IFC is providing a financing package of $150 million to Southeast Asia Commercial Joint Stock Bank (SeABank). The investment entails the first blue bond in Viet Nam and the first green bond by a private commercial bank in the country. IFC's investment will allow SeABank to expand its funding for aquaculture, fisheries, and clean water supply.
Axis Bank (2024): IFC is partnering with Axis Bank, one of the largest private sector banks in India, to provide a $500 million loan to help develop a blue finance market and scale up financing energy efficient projects in India. The loan will not only catalyze private sector investment in this emerging asset class, but also raise direct long-term funding for investments in wastewater management, reduction of marine pollution, restoration of ecosystems, sustainable shipping, and offshore renewable energy.
To learn more about IFC’s work in Blue Finance, see here.
