With reference to Water Credit, consider the following statements:It puts microfinance tools to work

Question

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 need without depending on subsidies.Which of the statements given above are correct?

Accepted Answer

Water.org is a global nonprofit organization working to bring water and sanitation to the world. It started the initiative of WaterCredit loan program to address the barrier of affordable financing for safe water and sanitation. Hence, statement 2 is not correct.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.How it works:It identifies a region where people need access to water and sanitation and that is ready for a microfinance solution.It partners with carefully selected institutions to provide affordable financing for water and sanitation to families in need.These microfinance partners establish water and sanitation loans in their portfolio of offerings. It supports them by providing technical assistance, connections and resources to get them started.People in need use these small, affordable loans to put a tap or toilet in their homes and access local resources to do the work. It enables poor households to meet their water and sanitation needs without depending on subsidies.Every repaid loan can be lent to another family in need of safe water or sanitation.Hence, statements 1 and 3 are correct. Hence option (c) is the correct answer.