Through a US$15 million commitment in Navegar Fund II, Navegar’s second private equity fund, Proparco closes its first operation in the Philippines. The fund is expected to finance the growth of 6 to 8 middle-market companies and foster local job creation.

Significant progress has been achieved in the education sphere since the World Education Forum in Dakar in 2000. In ten years, the number of children attending primary school in the world’s developing countries has risen - by more than 40 million in low- and medium-income countries. This progress has steadily spread into secondary and higher education, too. Yet wider access to education has often been attained at the cost of quality.

Prior to 1997, the East Zone of Metro Manila was faced with numerous water problems, for example only 26% of the area’s population had access to a continuous water supply. However, the city was able to overcome this serious problem with the emergence of Manila Water whose efforts led to a significant overall improvement in water supply and sanitation services.