Water.org announced that it has received a $3 million grant from Bank of America to expand access to safe water and sanitation for people in need in Asia, Africa, and Latin America.
The funding will support Water.org’s efforts to use financial solutions to help people living in poverty gain access to safe water and sanitation. This helps people attain the basic resources they need to build resilience to climate change for the future.
“Bank of America has a long-standing commitment to the environment and finding solutions to some of our most pressing water issues. This funding represents an evolution in our partnership with Bank of America. As an unrestricted grant, it increases our capacity to help build more climate-resilient communities in some of the world’s most vulnerable areas; it also expresses the mutual trust that has emerged from a long and successful partnership,” said Lina Bonova, Chief Revenue Officer at Water.org.
Bank of America has provided more than $8 million to Water.org since 2011. These efforts help to advance the United Nations Sustainable Development Goal number six — clean water and sanitation for all. Bank of America’s past grant funding to Water.org has supported the expansion of the organization’s microfinance practice, called WaterCredit. The program removes barriers to access through small, affordable loans to people to help establish essential systems like water connections and toilets. This market-driven solution is a critical element to help reduce water-related illnesses in rural and peri-urban areas.
“Water.org is leading the way on water access, which is one of the most pressing issues of our time as climate change continues to have an increased impact on the world’s most impoverished communities,” said Alex Liftman, Global Environmental executive at Bank of America. “This funding will help to scale viable solutions, which then can create economic opportunities, improve health and water access in rural locations, and provide clean, safe water where it is needed.”
Founded by Gary White and Matt Damon in 2009, Water.org drives market-driven financial solutions for the global water crisis, breaking down the barriers between people living in poverty and access to safe water and sanitation.
