Access to safe water and sanitation is vital for security, stability, and moving the global economy forward.
KANSAS CITY, Mo. (PRWEB)
September 19, 2017
WaterEquity, an innovation of Water.org, today announced it has received a commitment for a $20 million loan from the Overseas Private Investment Corporation. OPIC, a self-sustaining U.S. government agency that helps American businesses invest in emerging markets, is supporting WaterEquity’s WaterCredit Investment Fund 3 (WCIF3), a $50 million social impact investment Fund that will invest in enterprises serving water and sanitation needs among the world’s poor.
“Access to safe water and sanitation is vital for security, stability, and moving the global economy forward,” said Ray Washburne, president and chief executive officer of OPIC. “We’re proud to finance WaterEquity’s innovative and scalable financial approach to solving the global water crisis and look forward to making a tangible impact together.”
“OPIC’s $20 million investment in WCIF3 will enable WaterEquity to invest in a robust portfolio of viable and bankable deals in the water and sanitation sector that will respond to a $12 billion demand at the base of the economic pyramid,” said Gary White, co-founder and CEO of Water.org and WaterEquity. “We are grateful for OPIC’s transformative leadership which will unlock higher levels of social impact investments needed to end the water crisis.”
WaterEquity will raise and deploy social impact investment capital to enterprises including microfinance institutions to help scale Water.org’s proven WaterCredit solution and level the playing field for those living at the base of the pyramid (BOP). Over seven years, WaterEquity’s WCIF3 Fund is projected to reach at least 4.6 million people in South and Southeast Asia with access to safe water and/or sanitation, at nearly zero philanthropic cost.
“At Water.org and WaterEquity, we think about the billions of people who desperately need access to safe water and sanitation a bit differently – we see them as customers with financial power, rights, and the energy to…