Ujjivan Small Finance Bank Partners With Water.org To Offer Water, Sanitation And Hygiene Loans
Ujjivan Small Finance Bank (Ujjivan SFB) has unveiled a partnership with Water.org, a global non-profit organisation that helps people get access to safe water and sanitation through affordable financing, such as small loans. India has the highest population globally, and this partnership holds immense promise in offering affordable financing solutions for safe water and sanitation solutions to the masses.
Under the partnership, Water.org will assist Ujjivan SFB in identifying areas that require financing for clean water and hygienic sanitation. Water.org will provide technical assistance, market assessment, development of Information, Education and Communication (IEC) material, monitoring and evaluation support. To support the cause, Ujjivan SFB will be offering loans to existing as well as new customers starting from Rs 6,000 up to Rs 1,00,000 to enable them to construct and/or renovate water and sanitation facilities.
Ujjivan SFB disbursed over 5,000 Water and Sanitation (Watsan) loans worth Rs 30 crore last year, enabling customers to construct the necessary sanitation facilities in alignment with the Swachh Bharat mission of the Indian government. Through this partnership, Ujjivan SFB will further be able to provide safe drinking water and hygienic sanitisation facilities to 65,000 households by providing them with affordable loans over the next 3 years.
On the occasion, Ujjivan SFB's Managing Director and chief Executive Officer, Ittira Davis said, "We are delighted to unveil our collaboration with Water.org that will enable us to assist the citizens of India, to live a respectable life. Through the partnership, we aim to provide sustainable access to enhance their lifestyle through upgraded sanitation and safe water, which holds the key to improving the standard of living. This in turn will help them invest their time in more productive initiatives and contribute more to the economic progress of our country."
"Water.org sees a lot of potential in the proposed Water.org & Ujjivan SFB partnership. Ujjivan SFB's strong branch presence & expertise in microbanking space will make a huge mark in further mainstreaming water & sanitation (Wash) lending. We look forward to a journey filled with learning & innovation," said Manoj Gulati, Regional Director, South Asia, Water.org.
Watsan loan has been introduced to address the challenges of safe drinking water, proper sanitation, hygienic environment through the creation of low-cost infrastructure for customers. The loan is available under the Group Loan category.
