With reference to ‘Water Credit’, 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?
[UPSC Civil Services Exam – 2021 Prelims]
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (c)
Explanation:
- Water.org is a non-profit organization dedicated to providing access to safe water and sanitation worldwide, with a focus on making it affordable and easily accessible.
- Their Water Credit program is a unique solution that uses microfinance tools to provide small loans for water and toilet solutions to those who need them.
- org partners with in-country financial organizations to add water and sanitation loans to their portfolios, which are then financed through capital markets.
- These loans empower people living in poverty to improve their homes with taps and toilets.
- As loans are repaid, the funds are reinvested to help even more families gain access to safe water and sanitation.
- This creates a sustainable pay-it-forward system that continues to help communities in need.
- It is important to note that Water.org operates independently from the World Health Organization and the World Bank
