IFC to loan $25 million to WaterHealth India for rural drinking water

Clean drinking water is in my opinion the most critical issue that must be addressed in any area suffering from poverty. So any news like this one gives me hope and a smile on my face. WaterHealth India has recently received a $25 million loan to install more than 600 water filtration systems throughout India. This issue cannot be understated as, 

[m]ore than 25 percent of India’s population does not have access to clean drinking water. Unsafe water is often the cause for waterborne diseases such as cholera and diarrhea. As more villages are included, the WaterHealth project will have important health benefits as well as help generate local employment and provide training, which could significantly improve earnings for people in rural areas. [Source: Sreelakshmi24’s Blog]

WaterHealth India has already installed 200 such systems in Andhra Pradesh and so hopefully their experience will result in a significant improvement to clean water access.

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TC-I Tidbits

  • Energy and the Environment: Tata Power promises an environmentally conscious power plant in Cuttack and also pledges to pay above market rates for acquiring the land. The national government launches its ‘Green India’ campaign that will plant trees over 6 million hectares of degraded forests over the next 10 years.
  • Women and Media: Women at the National Conference of the Network of Women of Media (NWMI) come together to call attention to the potential of journalism to move beyond simply the known, traditional outlets.
  • Affordable Autos: In an attempt to compete with the Tata Nano, a joint partnership including Nissan, is looking to build their own 1 lakh car
  • PPP: The state of Maharashtra has hired the International Finance Corporation as a consultant in advising them in implementing public-private partnerships.
  • Sustainable Banking and Improvements The Financial Times has nominated ICICI, BlueOrchard, ABN Ambro and YES Bank for their Sustainable Banking Awards. Also, RBI will be sprucing up its banking in Lakshadweep to make it more accessible to various communities.

FT and IFC Sustainable Banking Awards for Microfinance Deadline Extended

The 2008 Financial Times Sustainable Banking Awards has extended their submission deadline to March 10. The awards will be presented in London on June 3, 2008 following the 2008 FT/IFC Sustainable Banking Conference.

Previously, the FT and IFC Sustainable Banking Awards had focused solely on banking institutions. This year, in hopes of recognizing non-bank MFIs, two new categories have been added: Award for Banking at the Bottom of the Pyramid, and Sustainable Investor of the Year. Submissions for these categories are open to private equity firms, asset management companies, and other non-banking institutions.

Three bank-specific categories will also be included in the 2008 awards ceremony: Sustainable Bank of the Year, Emerging Markets Sustainable Bank of the Year and Sustainable Deal of the Year.