The Overseas Private Investment Corporation (OPIC), the development finance institution of the US government, recently informed MicroCapital that it has loaned USD 10.5 million to WaterCredit Investment Fund 3, which is managed by WaterEquity, a “social impact investment manager” founded by US-based NGO Water.org. WaterEquity, which seeks “to deliver universal access to safe water and sanitation,” was launched in 2016. Since then, it reports having reached 400,000 people via investments in 13 microfinance institutions and other organizations in three countries. Eighty-eight percent of those served have daily incomes lower than USD 4. As of 2017, WaterEquity reports assets of USD 7.5 million.
In addition to OPIC, WaterEquity’s investors include the Belgium-based Johnson and Johnson Corporate Citizenship Trust and the following US-based organizations: Bank of America, the Conrad N Hilton Foundation, the beverage company Niagara and the Skoll Foundation.
Water.org reports having brought clean water, sanitation services or both to 16 million people in 12 countries from the 1990s through 2018. During 2017, the organization expended USD 32 million.
Established in 1971, OPIC is a financially self-sustaining organization helping US-based businesses invest in low- and moderate-income countries in ways intended to foster economic development while advancing US foreign policy priorities. In particular, OPIC provides financing, advocacy and political risk insurance. During 2018, the organization mobilized total capital of USD 10.6 billion from both the public and private sectors, closing the year with 112 active projects.
Sources and Additional Resources
Information provided directly to MicroCapital by OPIC
WaterEquity homepage
https://www.waterequity.org
GuideStar profile on WaterEquity
https://www.guidestar.org/profile/81-4109426
Water.org homepage
https://www.water.org
OPIC homepage
https://www.opic.gov
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