KANSAS CITY, Mo., Sept. 24, 2018 /PRNewswire/ -- Water.org and its partners reached a critical milestone this month: mobilizing $1 billion in capital for small loans that have empowered 14 million people living in poverty to obtain safe water and sanitation. WaterCredit is Water.org's primary means to address the global water and sanitation crisis by providing affordable financing and expert resources to make household water and toilet solutions a reality for those in need.
"Over the past few years, WaterCredit has grown by leaps and bounds, cultivating new partnerships, expanding into new geographies and graduating partners who continue to lend on their own," said Gary White, Water.org CEO and co-founder. "We sit on the cusp of scaling like never before."
Water.org's path to $1 billion capital mobilized demonstrates that WaterCredit is a viable tool to help meet the financing gaps to achieve the United Nation's Sustainable Development Goal 6 (SDG 6) which calls for clean water and sanitation for all people. The financing gap for extending safely managed access—fully meeting SDG6— is $89.6B.
"Our path to $1 billion in capital mobilized includes dozens of partners and millions of borrowers," said Nicole Wickenhauser, Water.org Director of Strategic Alliances. "Water.org further proves that bottom-up financing is a real and desired solution for millions of people—and evidence advances the case for blended finance as a critical means to achieve SDG 6," added Wickenhauser.
Water.org is driven by the belief that SDG6 isn't aspirational, it's attainable in our lifetime. For every $1 Water.org invests into finance partnerships, the organization leverages $42 worth of impact for water and sanitation improvements.
With more than 25 years of experience, Water.org accelerates innovative solutions to end the global water crisis. Founded by Gary White and Matt Damon, Water.org pioneers cost-efficient, market-driven approaches that remove financial barriers between those living in poverty and access to vital water and sanitation services.
Contact: Rosemary Gudelj, [email protected], 1-913-207-7284