Q. With reference to WaterCredit’, consider the following statements:
- It puts microfinance tools to work in the water and sanitation sector.
- It is a global initiative launched under the aegis of the World Health Organization and the World Bank.
- It aims to enable the poor people to meet their water needs without depending on subsidies.
Which of the statements given above are correct?
- 1 and 2 Only
- 2 and 3 Only
- 1 and 3 Only
- 1, 2 and 3
Answer: c) 1 and 3 Only
Notes:
- Water.org is a global nonprofit organization working to bring water and sanitation to the world.
- Its main objective is to make it safe, accessible, and cost-effective.
- WaterCredit is a powerful solution and the first to put microfinance tools to work in the water and sanitation sector.
- WaterCredit helps bring small loans to those who need access to affordable financing and expert resources to make household water and toilet solutions a reality.
- Water.org offers a portfolio of smart solutions that break down the financial barriers between people living in poverty and access to safe water and sanitation.
- The WaterCredit Initiative work with our in-country financial partners to add loans for water and sanitation solutions to their portfolios.
- These partners then mobilize funding from capital markets to provide affordable loans to people in need of water.
- People living in poverty use these loans to put a tap or toilet in their homes.
- Every repaid loan creates the opportunity for another family to get the safe water and toilets they need, fast and affordably.
- It is a pay-it-forward system that makes it possible to help more people in ways that will last.
- It does not work under World Health Organization and the World Bank.