Water.org is partnered with Caterpillar Foundation to expand its partnership with a new grant of $8.3 million to launch its WaterCredit model in Indonesia, Philippines, and Peru. The Foundation's commitment expands upon its existing partnership with Water.org which began in 2011 with a $3 million grant to scale WaterCredit in India. This is the largest single commitment in the history of Water.org. Collectively, these two grants from the Caterpillar Foundation will enable Water.org to accelerate its impact significantly, and empower nearly 500,000 people with access to safe water and sanitation.
Pioneered in 2003, WaterCredit puts microfinance tools to work in the water and sanitation sector. Through this market-based model, a family living in poverty can gain access to a small loan to pay for the construction of a water connection or toilet in their home. Having access to this basic necessity - in or near the home - enables a life of health, economic opportunity, and dignity. WaterCredit empowers the world's most vulnerable to take ownership of their future and accelerates large-scale and sustainable progress against the global water and sanitation crisis.
A critical component of this partnership centers on empowering women and girls, and a primary reason. The ripple effect of the Caterpillar Foundation's grant aims to be significant in enabling hundreds of thousands of people to gain access to the safe water and sanitation solutions they need.