Sampath wants end to global water and sanitation crisis
The US-based WaterEquity has provided capital debt worth US$5 million to Ahmedabad-based Microfinance Institution (MFI), Pahal Financial Services Pvt Ltd, which provides funding for clean water and proper sanitation facilities to marginalized communities in India.
“In partnering with Pahal, WaterEquity is able to support sustainable growth in access to water and sanitation in emerging markets. Together, we are accelerating an end to the global water and sanitation crisis for millions of women, children, and men in India,” Sridhar Sampath, South Asia Regional Director at WaterEquity, said in a release on 7 June 2021.
Till date, Pahal has impacted more than 10,000 households by providing access to funding for clean drinking water, sanitation and toilet facilities. This debt capital will help the Ahmedabad based MFI to further on-lend to women borrowers from low-income households, increasing their access to clean water and toilet facilities.
Pahal is registered with Reserve Bank of India as a Non-Banking Financial Company that provides microfinance services to the low-income households. Kartik Mehta and Purvi Bhavsar, ex-bankers with over 50 years of combined experience, founded the company in 2011.
It is based out of Ahmedabad and has more than 170 branches with over 1,500 employees. Pahal has been supported by BOPA (Base of Pyramid Asia) and Opportunity International (through their Indian subsidiary: Dia Vikas) in terms of equity investments. Currently, Pahal has made a significant change in the lives of more than 8 lakh households, mostly women, with total assets under management of nearly Rs.750 crores.
WaterEquity is an impact investment asset manager exclusively focused on solving one of the most urgent issues of our time—the global water and sanitation crisis. WaterEquity invests in financial institutions and enterprises in emerging markets with the goals of delivering access to safe water and sanitation to low-income consumers while offering an attractive risk-return profile to investors.
Founded by award-winning entrepreneurs Gary White and Matt Damon of Water.org and led by Dr. Paul O’Connell, the success of WaterEquity is built on decades of experience investing in water and sanitation in emerging markets, delivering proven social and financial returns. #banking #debts #funds #investment #water #SDG /fiinews.com
