Jemima McEvoy of Forbes reports on Matt Damon’s efforts to scale up clean water infrastructure.
- Matt Damon’s Water.org provides small loans to individuals and businesses to build clean water and sanitation infrastructure across the globe.
- Water.org recently launched a new venture called WaterEquity which will fund bigger projects like utilities and treatment plants for low-income populations.
- WaterEquity recently raised $150 million from Starbucks, EcoLab, Amazon, and Gap and hopes to reach $200 million for its infrastructure project.
“To date, WaterEquity and Water.org have reached 58 million people through its small loan programs, which are paid back at a rate of 98%, according to the founders. White said they are targeting returns of 6-8% on the $150 million they raised in an oversubscribed fund last year, and then 10-12% for this latest infrastructure fund. The main populations they serve are India, Indonesia, Cambodia, the Philippines and Kenya, where the WaterEquity founders say women are disproportionately impacted by issues of clean water scarcity.”
Read the full article here.
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