Investing in clean water and sanitation to address needs among world’s poor

WaterEquity is also pleased to announce that Bank of America, one of the world’s leading financial institutions, is supporting WCIF3 with a $5 million zero interest loan. This commitment to WaterEquity builds on the long-standing strategic partnership between Bank of America and Water.org.

“Access to safe water is integral to helping the global economy move forward,” said Anne M. Finucane, vice chairman of Bank of America. “Our investment in WaterEquity is an example of how Bank of America is able to deploy capital to support innovative, scalable solutions that address global challenges. WICF3 will help empower millions around the globe to participate in ending the water crisis.”

“We are grateful to Bank of America for their visionary leadership to make a $5 million loan,” White said. “They recognize the catalytic power of social impact investing required to end this global crisis, and we look to others to follow their lead.”

Research has identified $12 billion in demand among families at the Base of the Economic Pyramid (BOP) for access to affordable financing, such as small loans, to meet their water and sanitation needs. This represents at least 565 million people who are waiting for the market to reach them. Building on WaterCredit’s progress and impact, WaterEquity’s social impact investment funds will strive to respond to this market demand.

“At Water.org and WaterEquity, we think about the billions of people who are living and dying for water and sanitation access a bit differently than a traditional charity – we see them as customers with financial power, rights, and the energy to design their own futures. We see them as catalysts for change,” said Matt Damon, co-founder of Water.org and WaterEquity.

Learn more about how people are accessing safe water and sanitation.