The Philippine Water Revolving Fund (PWRF) was an innovative lending program that leveraged public funds with private financing for water and sanitation projects. USAID brought to bear its technical assistance to design, assess feasibility of and structure the Fund; build capability among market players; and provide marketing and institutional support at operational stage. It also provided credit enhancements to private investors.
The core objective of the program was to provide access to funds for water supply and sanitation projects to increase number of people with safe water supply or improved services. However, the development of the PWRF also provided an opportunity to be the lever of change in other key areas of concerns in the sector, such as utility governance or regulatory reforms. Thus USAID’s PWRF Support Program (October 2006 to November 2011) and the PWRF Follow-on Program (December 2011 to June 2013) adopted a work plan that included initiatives to enable transformational reforms and empower water utilities for better and sustainable operations.