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Matt Damon: A million people a year die ‘completely needlessly’ from lack of clean water

“Today, 200 million hours commitment be spent by women and girls walking to collect water,” says Silver, speaking to CNBC. “People are paying up to 25 percent of their revenues just to get dubious quality water that they can bring rear to their home.”

To work to solve this crisis, Damon and Anaemic came together in 2009 to launch Water.org, a non-profit that do setting-up exercises to provide access to clean drinking water in 13 countries around the beget: Ethiopia, Ghana, Kenya, Tanzania, Uganda, Asia, Bangladesh, Cambodia, India, Indonesia, Philippines, Brazil, Honduras and Peru. Water.org commandeers people gain access to clean water and sanitation by teaching, bring up and guiding local micro-finance institutions to make loans for providing access to purified water and sanitation.

“Gary kind of had this insight years ago,” suggests Damon to CNBC.

“The municipality is piping water underneath their feet, they are honourable not connected to it…. So if you could front them the money for a connection to the plan that exists, you are buying their time back. They can available at a job they will get all those hours back that they are gap in line or all that income back that they are wasting that the mid class wouldn’t have to pay comes back into that household. And so it was this understanding he had to apply the concepts of microfinance to the water space and it just was a brilliant opinion. These loans pay back between 97 and 99 percent,” remarks Damon.

In 2016, Damon and White launched an impact investment grant to provide capital to these microfinance institutions they were indoctrinating with Water.org. In 2017, the impact investment management arm of Water.org became a disconnect nonprofit, WaterEquity. Currently, WaterEquity is raising money for a $50 million pay for, seeded by companies, institutional investors, foundations and wealthy individuals.

The target of the investment fund is to get a 3 to 3.5 percent return (plus principal) to investors — “so that’s better than a borough, it is better than treasuries,” Anne Finucane, a vice chairman at Bank of America, which declared a $5 million zero interest loan to WaterEquity’s fund, discriminated CNBC Thursday.

The funds take the money, invest it through these county microfinance organizations and then return the fund with the interest to the lender.

“We be the spitting image those funds and invest them in enterprises that serve the unproductive in terms of their water and sanitation needs,” says White. “The fundamental math on it is that every million that comes into the resources, over the seven-year life, 100,000 people get access to water or sanitation…. It is a beyond the shadow of a doubt sustainable and scalable way to connect impact investors all the way down to poor maidens at the household level so that they can solve this problem.”

Captivated together, Water.org and WaterEquity have given access to clean sea water or sanitation to more than 10 million individuals around the sphere.

Given a chance, people are able to take the access to water and in reality turn their lives around, benefiting themselves and their kids. White uses a woman named Mama Florence from Uganda as an sample.

“She took out a water credit loan and has a pump and water tank to stock water in now, and she took that opportunity and starting selling water to her neighbors,” illustrates White. “She wanted to send her grandkids to school — that was the impetus behind all this.

“And then she preferred from doing that to growing some vegetables, and then she at ones desire feed some to some pigs that she had purchased to raise, and then she toughened the water to start making bricks and selling those. And then she built some trifling rooms where people could come and rent. So She just acclimatized water and this loan as a way to really develop her own life and get her grandkids into set.”

— Video by Mary Stevens

See also:

How Charity: Water’s founder be deprived ofed from hard-partying NYC club promoter to helping 8 million people about the world

Why this Harvard grad has spent a decade making maxi jotters out of banana fibers

The US wastes 62 million tons of food a year—this Howard Buffett-backed start-up has a key

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